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BOXD.US
id: 945, Created by , Scout

Boxed (BOXD) Potential Bankruptcy Case

  • In March, WSJ reported Boxed may be facing a risk of bankruptcy.
  • $BOXD fell 48.25%, losing $15M+ of shareholder value.
  • Investors may suspect Boxed of hiding the true state of its business and finances, which led to their losses.
On March 14, 2023, the WSJ reported that Boxed (BOXD) may file for bankruptcy as it continues to explore a possible sale of its business. WSJ provided further details:
  • Boxed went public less than two years ago.
  • Boxed is looking for a new commercial banking relationship.
  • Boxed transferred most of its cash out of its accounts at Silicon Valley Bank.
On this news, $BOXD fell 48.25% and lost over $15 million of its market capitalization, seriously damaging shareholders.

Considering all the information, investors might have grounds to suspect that Boxed and its executives hid the real state of the business, which consequently led to their losses.

The case is already under investigation by at least one of the reputable law firms.
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
15 March 2023
Collecting participants…

Boxed Inc

Boxed, Inc. operates as an e-commerce retailer and an e-commerce enabler in the continental United States. The company through its e-commerce retail service provides branded and private labelled bu...

    Ticker
    BOXD.US
    ISIN
    US1031741085
    CIK
    1828672
    Sector
    Consumer Cyclical
    Industry
    Diversified Retail
    Country
    USA
    Address
    451 Broadway, New York, NY, United States, 10013