RM LAW, P.C. has commenced an investigation into potential securities law violations by certain officers of Netshoes (Cayman) Limited (“Netshoes” or the “Company”) (NYSE: NETS).
If you purchased shares of Netshoes and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.
On April 12, 2017, the Company went public through an initial public offering (“IPO”) of 8,250,000 common shares at $18 per share, for gross proceeds of over $148 million.
On May 15, 2018, the Company’s shares declined approximately 44% after the company reported a wider-than-expected loss for a third-straight quarter and missed on revenue for a fourth-straight quarter. One analyst reportedly commented that “[s]ince its IPO, [Netshoes] has disappointed on multiple fronts, leading to declining top line growth and risks a path to profitability . . . That is leading to a continuous cash burn, which should further stretch its balance sheet.”
Since becoming a publicly traded company, the Company’s stock has declined over 80%.