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Robbins Arroyo LLP: Netshoes (Cayman) Limited (NETS) Misled Shareholders According to a Recently Filed Class Action

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Shareholder rights law firm Robbins
Arroyo LLP
announces that purchasers of Netshoes (Cayman) Limited
(NYSE:NETS) common stock issued in connection with the company's April
12, 2017 initial public offering ("IPO") have filed a class action
complaint against the company's officers and directors for alleged
violations of the Securities Act of 1933. Netshoes, through its
subsidiaries, operates as a sports and lifestyle online retailer in
Brazil and internationally.

View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/netshoes-cayman-ltd/

Netshoes Accused of Overinflating Its Competitive Edge

According to the complaint, Netshoes, which raised over $148.5 million
in proceeds in its IPO, represented in its registration statement that
the company had significant market share in a large addressable market
and highlighted customer loyalty. Netshoes also touted that it did not
have a relevant direct competitor in the eCommerce sports category in
the Latin American region. Contrary to these representations, Netshoes
faced intense competition in the sports, fashion, and beauty ecommerce
market, which threatened its market share and profitability. Netshoes
began to report dismal financial results in August 2017 and its stock
price has since steadily plunged to only $2.30 per share—a decline of
nearly 86% in one year.

Netshoes Shareholders Have Legal Options

Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leonid Kandinov at
(800) 350-6003, LKandinov@robbinsarroyo.com,
or via the shareholder
information form
on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. Sign up for our FREE
portfolio monitoring service, Stock
Watch
.

Attorney Advertising. Past results do not guarantee a similar outcome.

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