RM LAW, P.C. announces that a class action lawsuit has been filed on behalf of purchasers of the securities of Netshoes (Cayman) Limited (NYSE: NETS) (“Netshoes” or the “Company”), pursuant and/or traceable to the Company’s April 12, 2017 initial public offering (“IPO”).
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.
The complaint alleges that Netshoes represented in its registration statement that the Company had significant market share in a large addressable market and touted that it did not have a relevant direct competitor in the eCommerce sports category in the Latin American region. However, according to the complaint, Netshoes faced intense competition in the sports, fashion, and beauty eCommerce market, which threatened Netshoes’ market share and profitability.
Since becoming a publicly traded company, the Company’s stock has declined over 80%.