Thieler Law Corp advises investors with losses exceeding $100,000 of the July 13, 2015 lead plaintiff deadline in a class action lawsuit filed against Etsy Inc (NASDAQ: ETSY) (“Etsy” or “the Company”). The suit is pending in the U.S. District Court for the Eastern District of New York and investors, who purchased Etsy securities between April 16, 2015 and May 10, 2015, have until July 13, 2015 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Etsy securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 866-6157 or emailing mail@thielerlaw.com.  No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that more than 5% of all merchandise for sale on Etsy's website were either counterfeit or constituted trademark or copyright infringement. Additionally the complaint claims that brands are increasingly pursuing sellers on Etsy's platform for trademark or copyright infringement thereby jeopardizing Etsy's listing fees and commissions.  As further alleged in the complaint, as a result of the foregoing, Etsy's public statements were materially false and misleading at all relevant times.

On May 11, 2015, before the market opened for trading, numerous news outlets reported that Gil Luria, an equity analyst at Wedbush Securities, issued a note downgrading Etsy to "Underperform."  In the note, Luria claimed that over 5% of merchandise sold on Etsy's platform were either counterfeit or violated trademark protections.

As a result of this news, shares of Etsy dropped $1.86, or over 8%, on unusually heavy volume, closing at $20.85 on May 11, 2015.

If you were negatively impacted by your investment in Etsy securities between April 16, 2015 and May 10, 2015 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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