Test (TEST) Information Request Form
Levi & Korsinsky announces the commencement of a class action lawsuit in the United States District Court for the Southern District of Texas on behalf of shareholders of Test Inc. (NASDAQ : FTD) who purchased shares between March 1, 2017 and May 1, 2017.
The complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) FTD's financial statements contained errors relating to the assessment of cross-border indirect taxes; (ii) in turn, the Company lacked effective internal controls over financial reporting; and (iii) FTD had overstated the benefits of the Provide Commerce acquisition. The complaint further alleges that, as a result of the foregoing, FTD's public statements were materially false and misleading at all relevant times. On March 14, 2017, FTD reported its Fourth Quarter and Full Year 2016 financial and operational results. Therein, the Company disclosed a net loss for the Fourth Quarter "primarily due to goodwill impairment charges related to the Provide Commerce segment of $84.0 million." FTD also announced that it would restate its previously issued financial statements for Fiscal 2014 and Fiscal 2015 to correct certain errors.
If you suffered a loss in Test Inc. you have until July 3, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.To receive more information, please fill out the form.