Thieler Law Corp advises investors with losses exceeding $100,000 of the November 5, 2018 lead plaintiff deadline in a class action lawsuit filed against Qurate Retail Group Inc (NASDAQ: QRTEA) (“Qurate Retail Group” or “the Company”). The suit is pending in the U.S. District Court for the District of Colorado and investors, who purchased Qurate Retail Group Inc securities between August 5, 2015 and September 7, 2016, have until November 5, 2018 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Qurate Retail Group Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 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 Qurate was aggressively loosening the credit standards of its Easy-Pay program to attract a large group of new customers; Qurate’s strong sales growth was due to this loose credit policy; accounts receivable associated with this new group of customers posed a high risk of write-off; and as a result of the foregoing, Qurate’s positive statements about its business, operations, and prospects lacked a reasonable basis.

On August 5, 2016, Qurate Retail Group issued a press release revealing financial results for the second quarter ended June 30, 2016, disclosing “significant headwinds” and sales declines as compared to prior periods.  Qurate Retail Group revealed “higher than expected write-offs on Easy Pay purchases from October and November of last year” and announced increased reserves for prior period purchases.  In addition, the company revealed that “[g]iven heightened write-off risks, we choose to moderate our Easy Pay usage beginning in June, which puts some additional pressure on our sales.” 

Following this news, NASDAQ: QRTEA fell $5.69 per share, or 21.63 percent, to close at $20.61 per share on August 5, 2016.

If you were negatively impacted by your investment in Qurate Retail Group Inc securities between August 5, 2015 and September 7, 2016 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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