Investigation announced for Long-Term Investors in shares of The Lovesac Company (NASDAQ: LOVE) over potential Wrongdoing

An investigation on behalf of current long-term investors in shares of The Lovesac Company (NASDAQ: LOVE) concerning potential breaches of fiduciary duties by certain directors and officers of The Lovesac Company was announced.

Investors who are current long term investors in The Lovesac Company (NASDAQ: LOVE) shares, 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 for current long term investors in NASDAQ: LOVE stocks follows a lawsuit filed against The Lovesac Company over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: LOVE stocks, concerns whether certain Lovesac Company directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the District of Connecticut the plaintiff alleges that, the Defendants made false and/or misleading statements and/or failed to disclose that Lovesac did not properly account for last mile shipping and freight expenses, that accordingly, Lovesac's disclosure controls and procedures and internal control over financial reporting were ineffective and deficient, that as a result of all the foregoing, Lovesac overstated its gross profit and operating and net income, as well as understated its shipping and handling costs and accrued freight and shipping expenses, in its previously issued financial statements, that accordingly, Lovesac was likely to restate one or more of its previously issued financial statements, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of The Lovesac Company (NASDAQ: LOVE) have certain options and should contact the Shareholders Foundation.

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 lawsuits, 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.

This release was published on openPR.