Labaton Sucharow, a nationally ranked and award-winning shareholder rights law firm, announces that it is investigating Amazon.com Inc. ("Amazon" or the "Company") (NASDAQ: AMZN) for potential violations of the federal securities laws.
Amazon shares dropped as much as 10% in extended trading on Thursday, April 28, 2022 after the company issued a revenue forecast that trailed analysts’ estimates.
Amazon said it had a net loss of $3.8 billion in the quarter ended March 31, a sharp drop in income from the same period last year, when it made an $8.1 billion profit. It was also a big miss from the $4.4 billion profit that analysts surveyed by Refinitiv had forecast.
The company attributed the loss largely to a $7.6 billion loss from its investment in electric automaker Rivian Automotive.
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About the Firm
Labaton Sucharow LLP is one of the world's leading complex litigation firms representing clients in securities, corporate governance and shareholder rights, consumer, and cybersecurity and data privacy litigation, as well as whistleblower representation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at labaton.com.
David J. Schwartz