Press release
Investigation announced for Investors in shares of Qurate Retail, Inc. (NASDAQ: QRTEA)
An investigation for investors in Qurate Retail, Inc. (NASDAQ: QRTEA) shares over potential securities laws violations.
Investors who purchased shares of Qurate Retail, Inc. (NASDAQ: QRTEA), 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 whether a series of statements by Qurate Retail, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Englewood, CO based Qurate Retail, Inc., through its subsidiaries, engages in the video and online commerce industries in North America, Europe, and Asia.
Qurate Retail, Inc. reported that its annual Total Revenue declined from over $14.07 billion in 2018 to over $13.45 billion in 2019, and that its Net Income of $916.00 million in 2018 turned into a Net Loss of $456.00 million in 2018.
On February 26, 2020, Qurate Retail, Inc revealed that it had identified a material weakness in its internal control over financial reporting and "concluded that our internal control over financial reporting was ineffective as of December 31, 2019." Qurate Retail, Inc specified that the material weakness "relates to information technology general controls ('ITGCs') in QVC's Germany business. Specifically, the ITGCs were not consistently designed and operating effectively to ensure that access to certain financially significant applications and data were adequately restricted to appropriate personnel."
Shares of Qurate Retail, Inc. (NASDAQ: QRTEA) declined from $10.07 per share on February 17, 2020, to as low as $3.01 per share on March 16, 2020.
Those who purchased shares of Qurate Retail, Inc. (NASDAQ: QRTEA) have certain options and should contact the Shareholders Foundation.
Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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