Claims In Online Retailer Stock-Drop Suit Dismissed For Failure To State Claim

Mealey's (July 10, 2020, 1:16 PM EDT) -- BOSTON — A lead plaintiff in a securities class action lawsuit against online retailer Wayfair Inc. and three of its senior executives failed to sufficiently plead any of the necessary elements of his federal securities law claims in alleging that the defendants misrepresented the company’s advertising revenue leverage, a federal judge in Massachusetts ruled July 8 in granting the defendants’ motion to dismiss (In re Wayfair Inc. Securities Litigation, No. 19-10062, D. Mass., 2020 U.S. Dist. LEXIS 119286)....