Investor Alert: Kaplan Fox Announces Investigation Of Qurate Retail

NEW YORK, Sept. 19, 2018 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Qurate Retail, Inc. ("Qurate" or the "Company") (NASDAQ: QRTEA).  Investors who purchased Qurate securities between August 5, 2015 and September 7, 2016 (the "Class Period") may be affected.  A complaint has been filed in the United States District Court for the District of Colorado against Qurate and certain executives on behalf of investors that acquired Qurate securities during the Class Period.

On August 5, 2016, Qurate issued a press release announcing financial results for the second quarter ended June 30, 2016.  According to the complaint, the press release disclosed "significant headwinds" and sales declines as compared to prior periods.  During the conference call that followed, the Company also disclosed that "[g]iven heightened write-off risks, we did choose to moderate our Easy Pay usage beginning in June, which puts some additional pressure on sales."

Following this news, Qurate's stock price fell $5.69 per share, or 21.63%, to close at $20.61 per share on August 5, 2016.

Then, on September 8, 2016, Qurate admitted that Easy Pay "is a program where we don't do any credit check," and that the Company "did see [write-off rates for Easy Pay] move up a bit starting in Q4 of 2015 last year."

Following this news, Qurate's stock price fell $1.87 per share, or 8.7%, to close at $19.59 per share on September 8, 2016.

According to the complaint, the defendants made materially false and/or misleading statements throughout the Class Period because they failed to disclose, among other things, that (1) Qurate was aggressively loosening the credit standards for its Easy Pay program to attract a large group of new customers, (2) Qurate's strong sales growth was due to this loose credit policy, and (3) accounts receivable associated with this new group of customers posed a high risk of write-off.

If you are a member of the proposed Class, you may move the court no later than November 5, 2018 to serve as a lead plaintiff for the purported class.  You need not seek to become a lead plaintiff in order to share in any possible recovery.  If you would like to discuss the complaint or our investigation, please contact us by emailing [email protected] or by calling 800-290-1952.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about this Notice, the action, your rights, or your interests, please contact:

Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: [email protected]

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California  94104
(415) 772-4700
Fax:  (415) 772-4707
E-mail: [email protected]

SOURCE Kaplan Fox & Kilsheimer LLP