NASDAQ:PRSS Investor Alert: Lawsuit alleges Misleading Statements in IPO of CafePress Inc
The Shareholders Foundation announces that an investor, purchased shares of CafePress Inc (NASDAQ:PRSS), filed a lawsuit against Cafepress over alleged securities laws violations in connection with allegedly false and misleading statements made in its IPO.
Louisville, KY based CafePress Inc. is an e-commerce platform enabling customers to create, buy and sell a range of customized and personalized products
Investors who purchased shares of CafePress Inc (NASDAQ:PRSS) between March 28, 2012 and July 30, 2012, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of persons and/or entities who purchased or otherwise acquired common stock of Cafepress pursuant and / or traceable to the Company’s IPO that CafePress Inc raised $44.2 million in its IPO though allegedly false and misleading statements in its registration statement and prospectus.
On March 29, 2012, CafePress Inc filed with the SEC its IPO prospectus. In the IPO, CafePress Inc offered common stock for sale at a price of $19.00 per share.
Then on July 30, 2012, CafePress Inc. reported its financial results for the three months ended June 30, 2012. The same day CafePress Inc held a public conference call with investors, analysts and other market participants regarding its 2012 fiscal second quarter results.
Shares of CafePress Inc (NASDAQ:PRSS) declined from $14.68 per share on July 27, 2012, to $8.09 per share on July 31, 2012.
On Nov. 7, 2013, CafePress Inc reported its third quarter 2012 financial results. Shares of CafePress Inc (NASDAQ:PRSS) declined from $6.25 per share on Nov. 7, 2012 to $4.91 per share on Nov. 9, 2012.
On July 22, 2013, NASDAQ:PRSS shares closed at $6.80 per share.
Those who purchased shares of CafePress Inc (NASDAQ:PRSS), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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