Law Offices of Howard G. Smith announces an investigation on behalf of
Shopify Inc. (“Shopify” or the “Company”) (NYSE: SHOP)
investors concerning the Company and its officers’ possible violations
of federal securities laws.
On October 4, 2017, Citron Research published a report portraying
Shopify as "a completely illegal get-rich quick scheme." The report
alleged, among other things, that Shopify inaccurately described the
Company's relationship with certain affiliates, stating, in part:
"Shopify calls these affiliates 'partners.' We call them promoters
selling business opportunities." The Citron report compared Shopify's
business practices to those of Herbalife Ltd. ("Herbalife"), a company
that recently paid $200 million and agreed to an order "prohibit[ing]
Herbalife from misrepresenting distributors' potential or likely
earnings" to settle Federal Trade Commission charges.
On this news, Shopify's stock dropped $13.91, or 11.91%, to close
at $102.90 on October 4, 2017, thereby damaging investors.
If you purchased Shopify securities, have information or would like to
learn more about these claims, or have any questions concerning this
announcement or your rights or interests with respect to these matters,
please contact Howard G. Smith, Esquire, of Law Offices of Howard G.
Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by
telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected],
or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171004006467/en/