Polished.com Inc. f/k/a 1847 Goedeker Inc.

Ticker: POL, GOED

Class Period Start: 07/27/2020

Class Period End: 08/25/2022

Registration Deadline: 12/30/2022

Rosen Law Firm, a global investor rights law firm, announces it has filed a class action lawsuit on behalf of purchasers of the securities of Polished.com Inc. f/k/a 1847 Goedeker Inc. (NYSE American: POL, GOED): (i) pursuant and/or traceable to the registration statement and related prospectus issued in connection with the Company’s 2020 initial public offering (the “IPO” or “Offering”); and/or (ii) between July 27, 2020 and August 25, 2022, both dates inclusive (the “Class Period”). The lawsuit seeks to recover damages for Polished’s investors under the federal securities laws.  If you wish to serve as lead plaintiff, you must move the Court no later than December 30, 2022.

According to the lawsuit, throughout the Class Period, the registration statement supporting the IPO was false and/or misleading and/or failed to disclose that:

  • the Company would restate certain financials;
  • the Company’s internal controls were inadequate;
  • the Company downplayed and obfuscated its internal controls issues;
  • as a result, the Company would engage in an independent investigation;
  • 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;
  • following the commencement of the investigation, the Company’s CEO and CFO would leave the Company; and
  • as a result, defendants’ public statements were materially false and/or misleading at all relevant times.

Also according to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:

  • the Company’s internal controls were inadequate;
  • the Company downplayed and obfuscated its internal controls issues;
  • the Company did not properly construct or remediate its inadequate and ineffective internal controls;
  • contrary to the Company’s statements, the Company was not remediating its internal controls;
  • as a result, the Company would engage in an independent investigation;
  • 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;
  • following the commencement of the investigation, the Company’s CEO and CFO would leave the Company; and
  • as a result, defendants’ public statements were materially false and/or misleading at all relevant times.

If you suffered a loss on your investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below.

An attorney will contact you at no cost to provide you information about joining the action and answer your questions. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.

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