LOVE Investors Have Opportunity to Lead The Lovesac Company Securities Fraud Lawsuit

BENSALEM, Pa., Feb. 2, 2024 /PRNewswire/ -- Law Offices of Howard G. Smith announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against The Lovesac Company ("Lovesac" or the "Company") (NASDAQ: LOVE).

Class Period: March 30, 2023 – August 16, 2023
Lead Plaintiff Deadline: February 20, 2024

Investors suffering losses on their Lovesac investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].

The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) Lovesac did not properly account for last mile shipping and freight expenses; (2) accordingly, Lovesac's disclosure controls and procedures and internal control over financial reporting were ineffective and deficient; (3) as a result of all the foregoing, Lovesac overstated its gross profit and operating and net income, as well as understated its shipping and handling costs and accrued freight and shipping expenses, in its previously issued financial statements; (4) accordingly, Lovesac was likely to restate one or more of its previously issued financial statements; and (5) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.

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

Contacts

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com

SOURCE Law Offices of Howard G. Smith