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Polished.com, Inc.


A securities class action has been filed against Polished.com, Inc. (POL) on behalf of persons or entities who purchased or otherwise acquired publicly traded Polished.com securities: (1) pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s 2020 initial public offering (the “IPO” or “Offering”); and/or (2) between July 27, 2020 through August 25, 2022.  This case has been filed in the USDC – E.D.N.Y.

The Complaint alleges that the registration statement supporting the IPO was false and/or misleading and/or failed to disclose that: (1) the Company would restate certain financials; (2) the Company’s internal controls were inadequate; (3) the Company downplayed and obfuscated its internal controls issues; (4) contrary to the Company’s statements, the Company was not remediating its internal controls; (5) as a result, the Company would engage in an independent investigation; (6) as a result of the investigation, the Company would, among other things, retain independent counsel and consultants, and delay its quarterly filings in violation of NYSE requirements of listing; (7) following the commencement of the investigation, the Company’s CEO and CFO would leave the Company; and (8) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.

On the Company’s press release dated August 25, 2022, the Company’s stock price fell 7% to close at $0.74 per share on August 26, 2022, further damaging investors.

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Securities