An investigation for investors in Zulily Inc (NASDAQ:ZU) shares over potential securities laws violations by Zulily Inc was announced and NASDAQ:ZU stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/18/2015 -- An investigation on behalf of investors of Zulily Inc (NASDAQ:ZU) shares over potential securities laws violations by Zulily Inc and certain of its directors and officers in connection certain financial statements was announced.
Investors who purchased shares of Zulily Inc (NASDAQ:ZU) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Zulily Inc (NASDAQ:ZU) concerning whether a series of statements by Zulily regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Zulily Inc reported that its annual Total Revenue rose from $18.38 million in 2010 to $695.71 million in 2013 and that its Net Loss of $7.00 million in 2010 turned into a net Income of $12.91 million in 2013. Shares of Zulily Inc (NASDAQ:ZU) grew to as high as $68.39 per share in February 2014. Since then NASDAQ:ZU shares lost significant value.
Then on February 11, 2015, after market close, Zulily Inc reported adjusted fourth-quarter earnings of 11 cents a share on revenue of $391.3 million – over 20% below analysts' forecast of 14 cents a share on revenue of $406.5 million. Zulily Inc also forecast first-quarter sales of $300 million to $320 million, well below analysts' estimates of $371 million. Zulily Inc largely blamed unexpectedly high customer churn for the low sales. Zulily Inc announced at the same time that Company Chief Financial Officer Marc Stolzman would be leaving the company in March. In a note on Thursday, February 12, 2015, an analyst stated that "[t]he execution mistakes of the past two quarters…have been significant".
Shares of Zulily Inc (NASDAQ:ZU) declined to as low as $14.50 per share on February 12, 2015.
On February 13, 2015, NASDAQ:ZU shares closed at $14.22 per share.
Those who purchased shares of Zulily Inc (NASDAQ:ZU) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com