The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Stitch Fix, Inc. alleging that the Company violated federal securities laws.
This lawsuit is on behalf of purchasers of Stitch Fix Class A common stock between December 8, 2020, and March 8, 2022, inclusive.
Lead Plaintiff Deadline: October 25, 2022
No obligation or cost to you.
CLASS ACTION CASE DETAILS: According to the filed complaint, Stitch Fix made numerous false and misleading statements to investors concerning the synergy between the Company’s Fix and Freestyle programs, and repeatedly denied claims that the Freestyle program could cannibalize the Company’s legacy Fix business. Specifically, Stitch Fix repeatedly assured investors that the Company’s Freestyle business was “an additive experience” and “complementary” to the Fix business, that “the combination of those two things will allow us to address many more types of clients,” and that “we see solid growth in both sides of the business.” In truth, Stitch Fix concealed that these programs were not complementary or additive. Stitch Fix knew that the Freestyle program would be much preferred to the Company’s original Fix model and that the Freestyle program would inevitably cannibalize the Company’s legacy Fix business.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Stitch Fix you have until October 25, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Stitch Fix securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
J. Klein, Esq.
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New York, NY 10118
Telephone: (212) 616-4899