Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Amazon.com, Inc. (NASDAQ: AMZN) securities.
If you suffered a loss on your Amazon investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: common stock between July 30, 2021, and April 28, 2022
CASE DETAILS:
1) defendants knew or recklessly disregarded that the Company’s infrastructure and fulfillment network investments substantially outpaced demand; 2) those investments were a massive, self-imposed, undue drain on Amazon’s financial condition; 3) contrary to defendants’ public statements and undisclosed to investors, defendants had already implemented cutbacks to Amazon’s fulfillment capacity by July 2021; and 4) as a result of defendants’ misrepresentations and omissions, Amazon’s common stock traded at artificially inflated prices during the class period.
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