Earlier today, it was announced that the securities litigation law firm of Brower Piven has commenced a class action lawsuit in the United States District Court for the Eastern District of New York on behalf of purchasers of Etsy securities during the period between April 16, 2015 and May 10, 2015.
The complaint accuses the defendants (i.e. Etsy) of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that more than 5% of all merchandise for sale on Etsy’s website were either counterfeit or constituted trademark or copyright infringement and that brands are increasingly pursuing sellers on Etsy’s platform for trademark or copyright infringement, jeopardizing the Company’s listing fees and commissions.
According to the complaint, following reports that an analyst had noted that more than 5% of merchandise sold on Etsy’s platform may be counterfeit and/or constitute trademark or copyright infringement, the value of Etsy shares declined significantly.
The 5% that is mentioned translates to approx. 2 million items…
While the lawyers are prepping for this legal battle, here are some events to visit this coming week:
The Metcalfe Farmers’ Market will be in full swing this Saturday, May 16th. Farm fresh baking, woodworking, jewellery, clothing and more awaits you from 8 am until noon at the Metcalfe Fairgrounds!
The Ottawa Farmers’ Market will be throwing a “Royal Celebration” party this Sunday, May 17th, from 8 am to 3 pm. The market is back outdoors at Lansdowne Park, in front of its indoor winter location, the Aberdeen Pavilion. You can expect to find seasonal tastings, a chef’s table, children’s buskers and entertainers!
The Majestic Family Fun Day will be held on Sunday, May 17, from 10 am until 3 pm at the Jack Purcell Community Center (320 Jack Purcell Lane, off Elgin between Gilmour and Lewis). The event is organized by the Canadian Centre for Sexual + Gender Diversity in recognition of International Day against Homophobia and Transphobia, and will include family-friendly programming for children, youth, and their families. Free food and refreshments will be provided by local businesses.
Manifesto Crafts is one of the vendors who will be present at the Majestic Family Fun Day.
On Thursday, May 21st, “le pARTy”, the Ottawa Art Gallery’s signature fundraising event kicks off at 6 pm at the Arts Court, located at 2 Daly Avenue. “Le pARTy” is a silent art auction of 65 original artworks by regional artists working in a variety of media. Tickets start at $85 and can be ordered through the Gallery’s website
Next week I will be looking ahead at some great events that are coming up – anything from art and music to fashion and beer – and we’ll visit After Stonewall, Ottawa’s “Art for Everyday Living” shopping experience on Bank Street.
Until then, enjoy the long weekend and don’t forget to support local!