BENSALEM, Pa.–(BUSINESS WIRE)–$QRTEA #fraud–Law Offices of Howard G. Smith announces an investigation on behalf Qurate Retail, Inc. (“Qurate” or the “Company”) (NASDAQ: QRTEA, QRTEB) investors concerning the Company and its officers’ possible violations of federal securities laws.
On February 26, 2020, Qurate revealed that it had identified a material weakness in its internal control over financial reporting and “concluded that our internal control over financial reporting was ineffective as of December 31, 2019.” Qurate specified that the material weakness “relates to information technology general controls (‘ITGCs’) in QVC’s Germany business. Specifically, the ITGCs were not consistently designed and operating effectively to ensure that access to certain financially significant applications and data, were adequately restricted to appropriate personnel.”
On this news, the Company’s share price fell $2.09, or over 24%, to close at $6.46 per share on February 26, 2020, thereby injuring investors.
If you purchased Qurate securities, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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