A lawsuit was filed on behalf of investors in Polished.com Inc. (NYSE:POL) shares over alleged securities laws violations.

San Diego, CA -- (SBWire) -- 11/16/2022 --An investor, who purchased shares of Polished.com Inc. (NYSE: POL), filed a lawsuit in the U.S. over alleged Securities Laws violations by Polished.com Inc. f/k/a 1847 Goedeker Inc. in connection with certain allegedly false and misleading statements made issued in connection with the Company's 2020 initial public offering (the "IPO" or "Offering") and/or between July 27, 2020 and August 25, 2022.

Investors who purchased shares of Polished.com Inc. (NYSE: POL) have certain options and for certain investors are short and strict deadlines running. Deadline: December 30, 2022. Polished.com Inc. (NYSE: POL investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Polished.com Inc.. operates an e-commerce platform for appliances, furniture, and home goods in the United States. On August 15, 2022, after the market had closed, Polished.com disclosed that it is unable to timely file its second quarter 2022 report due to an ongoing investigation regarding "certain allegations made by certain former employees related to the Company's business operations."

Shares of Polished.com Inc. (NYSE: POL) declined from $3.669 per share on October 18, 2021, to as low as $0.75 per share on August 23, 2022.

The plaintiff alleges on behalf of purchasers of Polished.com Inc. (NYSE: POL) common shares , that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that the registration statement supporting the IPO was false and/or misleading and/or failed to disclose that the Company would restate certain financials, that the Company's internal controls were inadequate, that the Company downplayed and obfuscated its internal controls issues, that as a result, the Company would engage in an independent investigation, that 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, that following the commencement of the investigation, the Company's CEO and CFO would leave the Company, and that as a result, defendants' public statements were materially false and/or misleading at all relevant times.

Additionally, the plaintiff alleges that between between July 27, 2020 and August 25, 2022, the defendants made false and/or misleading statements and/or failed to disclose that the Company's internal controls were inadequate, that the Company downplayed and obfuscated its internal controls issues, that the Company did not properly construct or remediate its inadequate and ineffective internal controls, that contrary to the Company's statements, the Company was not remediating its internal controls, that as a result, the Company would engage in an independent investigation, that 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, that following the commencement of the investigation, the Company's CEO and CFO would leave the Company, and that as a result, defendants' public statements were materially false and/or misleading at all relevant times

Those who purchased shares of Polished.com Inc. (NYSE: POL) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.