Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Polished.com Inc. f/k/a 1847 Goedeker Inc. (POL; GOED) (NYSE: POL) and certain of its officers, On behalf of persons or entities who purchased or otherwise acquired publicly traded Polished.com Inc. f/k/a 1847 Goedeker Inc. ("Polished," "Goedeker," or the "Company") securities: (a) 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 (b) between July 27, 2020 and August 25, 2022, both dates inclusive. Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/pol.
This class action seeks to recover damages against Defendants for alleged violations of the Securities Act of 1933 (the “Securities Act”) and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”).
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.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/pol or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212- 697-6484. If you suffered a loss in Polished.com Inc. you have until December 30, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
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