"However, in reality, LoveSac's financial function was plagued by problems, which weakened the company's internal controls and made LoveSac's financial statements extremely vulnerable to inaccuracies," the complaint said.
August 26, 2024 at 05:41 PM
3 minute read
Litigation Reporter
Three shareholder derivative lawsuits have been filed against top leadership at LoveSac Co., a furniture retailer, after the company allegedly improperly capitalized $2.2 million because of errors in calculating last-mile freight expenses.
The actions were brought in Connecticut federal court, the most recent on Aug. 22 on behalf of shareholder Scott McKinnon. This complaint was surfaced on Law.com Radar.
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