LOS ANGELES, Nov. 05, 2018 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Qurate Retail, Inc. ("Qurate" or the "Company") (NASDAQ: QRTEA) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Qurate was overaggressive in the loosening of credit standards for the Company’s Easy-Pay program in an effort to attract a large number of new customers. The Company’s strong growth in sales was due primarily to the loosening of credit standards. Due to the loosening of standards, Qurate faced a larger risk for write-offs of accounts receivable. Based on these facts, the Company’s positive public statements about sales growth and business operations were false and materially misleading throughout the class period. When the market learned the truth about Qurate, investors suffered damages.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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