Polished is facing a class action lawsuit alleging that the Company made materially false and/or misleading statements and/or failed to disclose that: (1) the Company would restate certain financials; (2) the Company’s internal controls were inadequate; (3) the Company downplayed and obfuscated its internal controls issues; (4) as a result, the Company would engage in an independent investigation; (5) as a result of the investigation, the Company would, among other things, retain independent counsel and consultants, and delay its quarterly filings in violation of NYSE requirements of listing; (6) following the commencement of the investigation, the Company’s CEO and CFO would leave the Company; and (7) as a result, defendants’ public statements were materially false and/or misleading at all relevant times.
If you incurred a loss on POL stocks purchased: (1) pursuant and/or traceable to the registration statement and related prospectus issued in connection with the Company’s 2020 initial public offering; and/or (2) between July 27, 2020 and August 25, 2022, inclusive, this lawsuit is on your behalf. The lawsuit was filed in the United States District Court for the Eastern District of New York, and our firm is reaching out to investors to discuss their legal rights.
If you wish to act as a representative of the shareholders harmed by this misconduct, you may ask the court to appoint you as lead plaintiff. A lead plaintiff directs the litigation and participates in important decisions, including whether to accept a settlement for the class in the action.
You only have until December 30, 2022 to apply to be lead plaintiff. The court will then evaluate the applicants and choose a lead plaintiff. You are not required to act as a lead plaintiff in order to participate in any recovery.