NEW YORK, Nov. 27, 2021 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Purple Innovation, Inc. (“Purple” or the “Company”) (NASDAQ:PRPL) on behalf of Purple stockholders. Our investigation concerns whether Purple has violated the federal securities laws and/or engaged in other unlawful business practices.
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On November 9, 2021, Purple announced disappointing third quarter earnings “largely driven by impacts from our manufacturing backlog that were longer-lasting than we anticipated. Our lack of inventory impacted sales through all of our channels which are deeply interconnected.”
On this news, Purple’s stock fell 24%. On this news, the Company’s share price declined by $1.23 per share, or approximately 36.3%, from $3.39 per share to close at $2.16 per share on November 16, 2021.
If you purchased or otherwise acquired Purple shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Alexandra B. Raymond by email at firstname.lastname@example.org, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.