Home Commercial trading POLISHED.COM INC. (NYSE AMERICAN: POL) SHAREHOLDER CLASS

POLISHED.COM INC. (NYSE AMERICAN: POL) SHAREHOLDER CLASS

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Have you lost money on your investments in Polished.com? If yes, please visit Polished.com Inc. Shareholder Class Action or contact Pierre Allocco at (212) 951-2030 Where [email protected] to discuss your rights.

NEW YORK, Nov. 15, 2022 (GLOBE NEWSWIRE) — Bernstein Liebhard LLP, a nationally recognized investor rights law firm, reminds investors of the deadline to file a motion as lead plaintiff in the of a securities class action lawsuit that has been filed on behalf of the investors who purchased or otherwise acquired the securities of Polished.com Inc. f/k/a Goedeker Inc. (“Polished”, “Goedeker” or the “ Company”): (i) pursuant to and/or the registration statement and the prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s 2020 initial public offering (l “IPO” or “the offering”); and/or (ii) between July 27, 2020 and August 25, 2022 inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Eastern District of New York and alleges violations of the Securities Act of 1933 and the Securities Exchange Act of 1934.

Defendant Polished claims to sell furniture, fitness equipment, plumbing fixtures, televisions, outdoor appliances and patio furniture, as well as commercial appliances for builders and commercial customers as a destination of content and technology-driven buying for appliances, furniture and household items. .

On July 20, 2022, the Company changed its name from “1847 Goedeker Inc.” to “Polished.com Inc.” As part of the name change, the Company’s common stock ceased trading under the symbol ” GOED” and started trading under the symbol “POL”.

On August 3, 2020, the Company filed with the SEC the final IPO prospectus on Form 424B4, which forms part of the IPO registration statement. During the IPO, the company sold 1,111,200 shares at $9.00 per share.

Plaintiff alleges that Defendants made materially false and misleading statements in the Registration Statement and throughout the Class Period. Specifically, the plaintiff alleges that the defendants failed to disclose, among others, that: (1) the Company would restate certain financial statements; (2) the Company’s internal controls were inadequate; (3) the Company downplayed and obscured its internal control issues; and (4) as a result, the Company would have an independent investigation.

On March 29, 2021, after market hours, the Company filed with the SEC a report on Form 8-K (“Restatement 8-K”), which announced, among other things, that the Company’s financial statements for the fiscal year ended December 31, 2019, should no longer be relied upon.

On August 15, 2022, after market hours, Polished advised investors that it would not be filing its “quarterly report on Form 10-Q for the period ended June 30, 2022 (“second quarter 10-Q” in a timely manner). ) within the prescribed time” because the Company needed more time to complete a recently announced investigation.

On August 25, 2022, after market hours, the company’s current report on Form 8-K was accepted by the SEC. This report announced that the company was no longer in compliance with US NYSE rules because the company had not filed its quarterly report in a timely manner, and that the company had automatically received an extension until February 23, 2023 to regain conformity.

Also on August 25, 2022, after market hours, the Company issued a press release titled “Polished.com Provides Corporate Updates; Hires Leading Strategy Consulting Firm and Receives Notice from NYSE Regarding Late Filing of Form 10-Q,” which announced the NYSE Notice and also announced that the firm had engaged “a leading strategic advisory firm with expertise in retail and e-commerce operations to augment its management, identify opportunities to accelerate long-term profitable growth and, separately, potentially accelerate the ongoing investigation by the Audit Committee of the Board of Directors.

On October 18, 2022, the Company issued a press release titled “Polished.com Announces Management Transition” which announced that defendants Albert Fouerti, Maria Johnson and Elie Fouerti had resigned from their positions with the Company effective October 14, 2022.

If you wish to act as the main plaintiff, you must apply to the court no later than December 30, 2022. A lead plaintiff is a representative party acting on behalf of other class members to direct litigation. Your ability to participate in any recovery does not require you to serve as the primary plaintiff. If you choose to do nothing, you can remain an absent member of the group.

If you purchased or otherwise acquired Polish securities, and/or wish to discuss your legal rights and options please visit Polished.com Inc. Shareholder Class Action or contact Pierre Allocco at (212) 951-2030 or [email protected].

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the firm has been retained by some of the nation’s largest public and private pension funds to oversee their assets and bring lawsuits on their behalf. Following its success in hundreds of lawsuits and class actions, the firm has been named to the National Law Journal’s “plaintiffs list” thirteen times and listed in The Legal 500 for ten consecutive years.

LAWYER ADVERTISING. © 2022 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Past results do not guarantee or predict a similar outcome with respect to any future matter.

Contact information:

Pierre Allocco
Bernstein Liebhard LLP
https://www.bernlieb.com
(212) 951-2030
[email protected]