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Lead Plaintiff Deadline is December 30, 2022.

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About the Case

According to the complaint, on August 3, 2020, Polished filed with the SEC the final prospectus for the IPO on a Form 424B4, which forms part of the IPO Registration Statement. In the IPO, Polished sold 1,111,200 shares at $9.00 per share.

On August 15, 2022, after market hours, Polished notified investors that it would not timely file its “quarterly report on Form 10-Q for the period ended June 30, 2022 (‘Second Quarter 10-Q’) within the prescribed time period” because Polished required additional time to complete a newly announced investigation.

Following this news, Polished’s stock price fell 35% to close at $0.97 per share on August 16, 2022.

Then, on August 25, 2022, after market hours, Polished issued a press release entitled “Polished.com Provides Corporate Updates; Engages Leading Strategic Consulting Firm and Receives New York Stock Exchange Notice Regarding Late Form 10-Q Filing” which announced that Polished had engaged “a leading strategic consulting firm with retail and ecommerce operations expertise to augment its existing management, identify opportunities to accelerate long-term profitable growth and, separately, to potentially expedite the Audit Committee of the Board of Directors’ ongoing investigation.”

Following this news, Polished’s stock price fell 7% to close at $0.74 per share on August 26, 2022, further damaging investors.