GlobeNewswire
SAN FRANCISCO, Oct. 18, 2022 (GLOBE NEWSWIRE) -- Hagens Berman urges Polished.com Inc. (NYSE: POL) investors with significant losses to submit your losses now. The firm is investigating possible securities law violations
Polished.com Inc. (POL) Investigation:
In the past, Polished.com (f/k/a 1847 Goedeker Inc. (GOED)) has assured investors that it has adequate internal controls over financial reporting and its financial statements have been prepared in accordance with Generally Accepted Accounting Principles.
The company’s claims may have come into question beginning on Feb. 2, 2022, when it announced the resignation of its Chief Accounting Officer (Robert D. Barry). This news drove the price of Polished.com shares about 6.5% lower the next day.
Then, on Aug. 15, 2022, Polished.com announced it would not timely file its quarterly report for the period ended June 30, 2022. The company revealed that its Audit Committee “recently began an independent investigation regarding certain allegations made by certain former employees related to the Company’s business operations.” This news drove the price of Polished.com shares crashing over 35% lower on Aug. 16, 2022, wiping out over $55 million of shareholder value.
“We’re focused on investors’ losses and whether Polished.com may have cooked its books,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Polished.com and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Polished.com should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].
Hagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our or follow us on Twitter at .
source: https://www.morningstar.com/news/globe-newswire/8667636/hagens-berman-national-trial-attorneys-encourages-polishedcom-pol-investors-with-losses-to-contact-firms-attorneys-firm-investigating-possible-securities-law-violations
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