HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, encourages Polished.com (POL) investors with losses to contact firm lawyers as deadline approaches in securities fraud class action

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Nov. 16, 2022 (ACCESSWIRE via COMTEX) —
SAN FRANCISCO, CA/ACCESSWIRE/November 16, 2022/ Hagens Berman urges Polished.com Inc. f/k/a 1847 Goedeker Inc. (NYSE:POL) investors with significant losses for submit your losses now.

Class period: July 27, 2020 – August 25, 2022

Lead Applicant Deadline: December 30, 2022

Visit:www.hbsslaw.com/investor-fraud/POL

Contact a lawyer now:[email protected]

844-916-0895

Polished.com Inc. (POL) Securities Class Action:

The action alleges that the defendants made false and misleading statements in connection with Polished.com’s initial public offering (IPO), which closed on July 27, 2020.

Specifically, the complaint alleges that the IPO documents misrepresented and omitted that: (1) the company would restate certain financial statements; (2) the company’s internal controls were inadequate; (3) the company downplayed and obscured internal control issues; (4) accordingly, the company would engage in an independent investigation; (5) as a result, the company would hire independent attorneys and consultants and delay its quarterly financial filings in violation of NYSE listing requirements; and (6) after the investigation began, the company’s CEO and CFO would leave the company.

The accuracy of the IPO documents was called into question on February 2, 2022, when Polished.com announced the resignation of its chief accounting officer (Robert D. Barry).

Then, on August 15, 2022, Polished.com announced that it would not timely file its quarterly report for the period ending June 30, 2022. The company disclosed that its audit committee “recently opened an investigation independent regarding certain allegations made by certain former employees related to the business activities of the Company.”

Additionally, on October 18, 2022, Polished.com announced the abrupt departure of its CEO (Albert Fouerti), Chief Financial Officer (Maria Johnson), and Chief Operating Officer (Elie Fouerti) effective immediately.

On November 2, 2022, Polished.com revealed that the audit committee’s investigation focused on employment and inventory management practices.

Each of these disclosures depressed Polished.com’s stock price, hurting investors.

“We are focused on investor losses and proving that Polished.com’s IPO filings did not reveal material flaws in the company’s employment and inventory management practices,” said said Reed Kathrein, Hagens Berman’s partner leading the investigation.

If you have invested in Polished.com and have significant losses, or have knowledge that can help the company’s investigation, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: People with nonpublic information about Polished.com should consider their options to help with the investigation or take advantage of the SEC’s whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards of up to 30% of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected]

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About Hagens Berman
Hagens Berman is a global complex plaintiffs’ rights litigation law firm, focusing on corporate liability through class action law. The firm is home to a strong securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases that achieve real results for those harmed by negligence and fraud. of business. To learn more about the company and its successes, visit hbsslaw.com. Follow the company for updates and news on @ClassActionLaw.

Contact:
Reed Kathrein, 844-916-0895

THE SOURCE: Hagens Berman Sobol Shapiro LLP

See the source version on accesswire.com: https://www.accesswire.com/726145/HAGENS-BERMAN-NATIONAL-TRIAL-ATTORNEYS-Encourages-Polishedcom-POL-Investors-with-Losses-to-Contact-Firms-Attorneys-Deadline-Approaching-in-Securities- Fraud-Class-Action

COMTEX_419023041/2457/2022-11-16T09:15:23

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Robert D. Coleman