Etsy and Counterfeit Goods

Howard G. Smith: Etsy investors are encouraged to contact Howard G. Smith, Esq. to discuss their legal rights in the pending class action, according to Market Watch. The lawsuit claims that the Company and its top executives misled investors by failing to disclose the risks associated with the Company widespread sale of counterfeit goods, and/or goods that infringed on intellectual property rights. Etsy investors have until July 13, 2015 to file a lead plaintiff motion. Specifically, the lawsuit claims that defendants misstated and/or failed to disclose that: over 5% of all merchandise for sale on Etsy website were either counterfeit or constituted trademark or copyright infringement; brands are increasingly pursuing sellers on Etsy platform for trademark or copyright infringement, jeopardizing Etsy listing fees and commissions; and as a result, Etsy public statements were materially false and misleading at all relevant times. The Company shares have declined further on news of Etsy poor quarterly results, and that a major intellectual property rights holder has sued the Company for infringement. When the true details entered the market, Etsy shares fell $1.86 per share on heavy trading volume to close at $20.85 per share on May 11, 2015. (news.financializer.com). As reported in the news.