NEW YORK, Aug. 31, 2018 (GLOBE NEWSWIRE) -- Stull, Stull & Brody (“SS&B”) announces that a class action lawsuit has been filed on behalf of purchasers of the securities of Netshoes (Cayman) Limited (“Netshoes” or the “Company”), pursuant and/or traceable to the Company’s April 12, 2017 initial public offering (“IPO”).

The complaint alleges that Netshoes represented in its registration statement that the Company had significant market share in a large addressable market and touted that it did not have a relevant direct competitor in the eCommerce sports category in the Latin American region.  However, according to the complaint, Netshoes faced intense competition in the sports, fashion, and beauty eCommerce market, which threatened Netshoes’ market share and profitability.  Netshoes began to report dismal financial results in August 2017 and its stock price has since steadily declined.

Investors who purchased or otherwise acquired Netshoes securities pursuant and/or traceable to the Company’s April 12, 2017 IPO may contact Stull, Stull & Brody, by email to netshoes@ssbny.com, by telephone at 1-212-687-7230, Ext. 145, or by fax to 1-212-490-2022.  

You may retain Stull, Stull & Brody, or other counsel of your choice, to serve as your counsel in this action. 

SS&B has litigated class actions for violations of securities laws and breaches of fiduciary duty on behalf of defrauded investors over the past 40 years and has obtained court approval of substantial settlements on numerous occasions.  SS&B has offices in New York and Beverly Hills.  SS&B’s website ( www.ssbny.com ) has additional information about the firm.

Attorney advertising.  Prior results do not guarantee a similar outcome.  This press release may be considered Attorney Advertising in some jurisdictions under applicable laws and ethical rules.

CONTACT: Stull, Stull & Brody 1-212-687-7230, Ext. 145 Attn: Jason D’Agnenica Email: netshoes@ssbny.com