Citron Research and Wayfair

Wayfair CEO Niraj Shah: The investigation concerns whether Wayfair and certain of its officers and/or directors have violated Sections 10 and 20 of the Securities Exchange Act of 1934, according to Market Watch. On August 31, 2015, Citron Research published a report entitled "Wayfair is the Most Mispriced Stock Citron Research Has Seen in Years." The Citron report stated, in part, that: Wayfair had deliberately refused to acknowledge Overstock as a competitor in its SEC filings, despite the similarities between the two companies, because "if they acknowledge Overstock as a comp, it becomes apparent to all that Wayfair stock is not worth more than $10 a share"; and Wayfair CEO Niraj Shah described the company as profitable "for the first nine years of this business" in an August 13, 2015 interview, when the company, per its S-1 filing, had $190 million in cumulative losses before going public, "and the number has done nothing but escalate." On this news, Wayfair stock has fallen as much as 4.52, or 10.7%, on intraday trading on August 31, 2015. W, -11.65% Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 237. The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. (news.financializer.com). As reported in the news.