Farfetch Limited Faces Class Action Lawsuit Over Misleading Investors

Shareholders Allege Company Misled Them About Business Prospects, Leading to Lower Than Expected Q2 2023 Financial Results and a Significant Drop in Share Price

• Farfetch Limited is facing a class action lawsuit filed on behalf of shareholders who purchased or otherwise acquired Farfetch securities between March 9, 2023 and August 17, 2023.
• The complaint alleges that Farfetch misled investors about its business prospects, including a significant slowdown in growth in the U.S. and China, onboarding challenges impacting the launch of its Reebok partnership, and issues with its supply chain and inventory.
• On August 17, 2023, Farfetch announced its Q2 2023 financial results, reporting revenue of approximately $572 million, significantly less than the market consensus of $650.71 million. The company also lowered its FY 2023 revenue forecast from $2.9 billion to $2.5 billion.
• Following these announcements, Farfetch's Class A ordinary share price fell $2.15 per share, or 45.17%, to close at $2.61 per share on August 18, 2023.
• Shareholders who want to act as lead plaintiff for the class should contact their respective law firms. The deadline to file lead plaintiff papers is December 19, 2023.

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