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4-Traders Homepage  >  Equities  >  Nyse  >  Shopify Inc (US)    SHOP   CA82509L1076

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SHOPIFY INC. Girard Gibbs Investigates Potential Securities Law Violations

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10/05/2017 | 12:23am CEST

Girard Gibbs LLP is investigating claims on behalf of investors of Shopify Inc. (NYSE:SHOP) regarding possible violations of federal securities laws or other unlawful business practices. Investors who purchased shares of Shopify prior to October 4, 2017 may be affected.

Shopify investors who want to learn more about this class action lawsuit investigation, click here.

On October 4, 2017, Citron Research published a report questioning the sustainability of Shopify’s user growth and asserting that the company’s marketing practices violate Federal Trade Commission (FTC) rules. The report specifically references marketing material and promotions distributed by Shopify that called it “the online store for someday millionaires” and claim that members can quit their jobs and become millionaires. The Citron report compared Shopify's business practices to those of Herbalife, which recently paid $200 million to settle Federal Trade Commission charges and agreed to an order “prohibit[ing] Herbalife from misrepresenting distributors' potential or likely earnings.”

Following this news, the share price of Shopify plummeted more than 11.5% to close at $103.30 on October 4, 2017.

If you purchased or acquired shares of Shopify and would like to speak privately with a securities attorney to learn more about the investigation and your legal rights, visit our website or contact the securities team directly at (800) 254-9493.

Girard Gibbs LLP is one of the nation’s leading firms representing individual and institutional investors in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and has earned Tier-1 rankings and been named in the U.S. Lawyers – Best Law Firms list for five consecutive years.

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


© Business Wire 2017
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Financials ($)
Sales 2017 650 M
EBIT 2017 -7,77 M
Net income 2017 -60,1 M
Finance 2017 848 M
Yield 2017 -
P/E ratio 2017 -
P/E ratio 2018
EV / Sales 2017 14,2x
EV / Sales 2018 9,88x
Capitalization 10 062 M
Chart SHOPIFY INC (US)
Duration : Period :
Shopify Inc (US) Technical Analysis Chart | SHOP | CA82509L1076 | 4-Traders
Technical analysis trends SHOPIFY INC (US)
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 110 $
Spread / Average Target 7,4%
EPS Revisions
Managers
NameTitle
Tobias Albin Lütke Chairman & Chief Executive Officer
Harley Finkelstein Chief Operating Officer
Russ Jones Chief Financial Officer
Jeremy Seth Levine Independent Director
Steven A. Collins Independent Director
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