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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 by shareholder Scott McKinnon. According to the complaint, the defendants, officers and directors at LoveSac, misled investors to believe their financial reporting was correct.

Connecticut

August 26, 2024, 5:41 PM