NEW YORK, March 01, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in Wayfair Inc. (“Wayfair” or the “Company”) (NYSE: W). Those investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.

The investigation concerns whether Wayfair and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

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On February 23, 2023, Wayfair issued a press release disclosing financial results for the fourth quarter and full year ended December 31, 2022. Among other things, Wayfair reported a 4.6% year-over-year decline in revenue for the quarter, for a net loss of $351 million. The company reported that it ended 2022 with 22.1 million active customers, down from about 5 million customers lost over the year.

As a result of this news, Wayfair’s stock price fell $11.48 per share, or 23.05%, to close at $38.33 per share on February 23, 2023.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Bar Association, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches and corporate wrongdoing. The firm has recovered numerous multi-million dollar claims on behalf of group members. See www.pomlaw.com.

CONTACT:
Robert S Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980