NEW YORK, Nov. 08, 2022 (GLOBE NEWSWIRE) — The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed on behalf of the acquirers of Polished in the United States District Court for the Eastern District of New York. com, Inc. (“Polished” or the “Company”) (NYSE: POLE) securities pursuant to and/or traceable to the registration statement issued in connection with Polished’s initial public offering of July 2020 (“IPO”) and/or those securities of Polished issued between July 27, 2020 and August 25, 2022 (the “collection period”), ). Investors have until December 30, 2022 to petition the court to be named lead plaintiff in the lawsuit.

Polished is an online retailer of consumer goods. The Company offers microwave ovens, grills, refrigerators, dishwashers, dryers, space heaters, carpets, garbage disposal, furniture and other home improvement products.

On July 27, 2020, Polished completed its IPO and issued 1,111,200 shares at $9.00 per share.

On March 29, 2021, the Company filed a Recent Report on Form 8-K with the SEC disclosing that the Company’s prior financial statements for the quarters ended June 30, 2019 and 2020, ended September 30, 2019 and quarters ended 2020 were published and the year ended December 31, 2019 should no longer be relied upon. As a result of this news, Polished shares fell from $9.00 to a closing price of $8.63 on March 30, 2021.

On August 15, 2022, Polished announced that it was unable to timely file its second quarter 2022 report due to an investigation into “certain allegations by certain former employees related to the Company’s operations.” As a result of this news, the price of Polished shares fell from $1.51 to a closing price of $0.97 on August 16, 2022.

On August 25, 2022, Polished announced that it was no longer in compliance with the NYSE American rules for failing to file its quarterly report on time and that it had received an extension of time to regain compliance. About this message…