The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Western District of Washington on behalf of shareholders of Amazon.com, Inc. who purchased common stock between July 30, 2021, and April 28, 2022.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that:
1) defendants knew or recklessly disregarded that the Company’s infrastructure and fulfillment network investments substantially outpaced demand; 2) those investments were a massive, self-imposed, undue drain on Amazon’s financial condition; 3) contrary to defendants’ public statements and undisclosed to investors, defendants had already implemented cutbacks to Amazon’s fulfillment capacity by July 2021; and 4) as a result of defendants’ misrepresentations and omissions, Amazon’s common stock traded at artificially inflated prices during the class period.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until September 6, 2022 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.