Blue Apron Holdings, Inc. (NYSE: APRN)

DEFENDANT NAME: Blue Apron Holdings, Inc.
STOCK SYMBOL: NYSE: APRN
CASE NUMBER:
COURT: U.S. District Court for the Eastern District of New York
PRACTICE AREA: Investor Fraud
STATUS: Investigation
CLASS PERIOD: June 26, 2017 - August 17, 2017
LEAD PLAINTIFF DEADLINE: October 16, 2017
DATE FILED:
COURT LOCATION:
RELATED DOCUMENTS:
CONTACT:
510-725-3000 APRN@hbsslaw.com

Hagens Berman reminds investors in Blue Apron Holdings, Inc. (NYSE: APRN) of the October 16, 2017 Lead Plaintiff deadline in the securities class action filed in the U.S. District Court for the Eastern District of New York.

If you purchased or otherwise acquired securities of APRN between June 26, 2017 and August 17, 2017 and suffered losses contact Hagens Berman Sobol Shapiro LLP.  For more information contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing APRN@hbsslaw.com.

During late June 2017, Defendants priced the Company’s IPO for the issuance of approximately 30 million shares at $10.50 per share.  By September 25, 2017, the price of Blue Apron shares had fallen over 47% to close at $5.54 on September 25, 2017.  In addition, certain of the IPO underwriters have reduced their target price for the stock.

The lawsuit alleges that Defendants did not disclose in the IPO Registration Statement and Prospectus that (a) rather than continuing to significantly increase advertising spending, Blue Apron had already planned to significantly reduce such spending to the detriment of future sales and profit margins, (b) the Company was experiencing problems associated with on time deliveries and complete deliveries to its customers, and (c) it had run into delays with its new factory in Linden, New Jersey.

“Among other things, we’re focused on are the Defendants’ omissions of pre-IPO facts reasonable investors would consider important that, when they surfaced after the IPO, appear to have severely damaged Blue Apron investors,” said Hagens Berman partner Reed Kathrein.

Whistleblowers:  Persons with non-public information regarding APRN should consider their options to help in the investigation or take advantage of the SEC Whistleblower program.  Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.  For more information, call Reed Kathrein at 510-725-3000 or email APRN@hbsslaw.com.


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08/18/17: Investigation