The Lovesac Company

Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of The Lovesac Company (NASDAQ: LOVE) resulting from allegations that Lovesac may have issued materially misleading business information to the investing public.

If you purchased Lovesac securities and would like to join the prospective action, please click “Join This Class Action.”

If you purchased Lovesac securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of investigation:

Lovesac announced on August 16, 2023, that there were “certain errors with the methodology used by the Company to calculate the accrual of its last mile freight expenses applicable to the Company’s financial statements for the fiscal year ended January 29, 2023 and the thirteen weeks ended April 30, 2023.” Lovesac added, “as a result of the identified errors related to last mile freight expenses, the Company believes that previously reported operating income and net income were overstated by approximately $1.5 million to $2.5 million and $1.0 million to $2.0 million, respectively, for fiscal year 2023.”

On this news, the price of Lovesac stock fell $0.7, or 2.95%, to close at $23.06 per share, on August 17, 2023.

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Company Name: The Lovesac Company
Stock Symbol: LOVE
Class Period: N/A
Court: N/A

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The Rosen Law Firm has been ranked among the top 4 law firms each year since 2013 for the number of successful securities class actions on behalf of investors. In 2019 alone, our firm recovered $438 million for investors.

Investors should carefully identify and select experienced counsel with a track record of success leading securities class actions. Often other firms issue press releases about class actions yet do not have comparable experience or resources.

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The Rosen Law Firm represents investors throughout the globe. Our mission is to prosecute securities fraud class actions and protect shareholders’ rights.

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