NEW YORK, March 10, 2020 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of Qurate Retail, Inc. ("Qurate" or the "Company") (NASDAQ: QRTEA; QRTEB). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Qurate and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On February 26, 2020, Qurate disclosed that it had identified a material weakness in its internal control over financial reporting and "concluded that our internal control over financial reporting was ineffective as of December 31, 2019." Qurate specified that the material weakness "relates to information technology general controls ('ITGCs') in QVC's Germany business. Specifically, the ITGCs were not consistently designed and operating effectively to ensure that access to certain financially significant applications and data, were adequately restricted to appropriate personnel." On this news, Qurate's stock price fell sharply, damaging investors.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 9980
SOURCE Pomerantz LLP