FIGS, Inc. (FIGS)
Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against FIGS, Inc. (“FIGS” or the “Company”) (NYSE: FIGS) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired: (i) Securities between May 27, 2021 and May 12, 2022, inclusive (the “Class Period”); and/or (ii) FIGS stock pursuant and/or traceable to the Offering Documents issued in connection with FIGS’ initial public offering (the “IPO”) Such investors are encouraged to join this case.
This class action seeks to recover damages against Defendants for alleged violations of the Securities Act of 1933 (the “Securities Act”) and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”).
The Complaint alleges that the Defendants made statements that were materially false and/or misleading, and failed to disclose material adverse facts about the Company’s business operations and prospects. Specifically, defendants: (i) inflated the Company’s true ability to successfully secure repeat customers; (ii) failed to disclose the Company’s increasing dependence on air freight; (iii) inflated the expected net revenues, gross margin, and adjusted EBITDA margin for 2022; and (iv) that, as a result, of the foregoing, defendants’ statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
A class action lawsuit has already been filed. You can review a copy of the Complaint and sign the certification form or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Figs, Inc. you have until January 3,2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.