San Diego, CA -- (SBWire) -- 12/15/2022 --An investigation on behalf of current long-term investors in shares of Stitch Fix, Inc. (NASDAQ: SFIX) concerning potential breaches of fiduciary duties by certain directors and officers of Stitch Fix, Inc. was announced.
Investors who are current long term investors in Stitch Fix, Inc. (NASDAQ: SFIX) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NASDAQ: SFIX stocks follows a lawsuit filed against Stitch Fix, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: SFIX stocks, concerns whether certain Stitch Fix directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Northern District of California the plaintiff alleges that Stitch Fix, Inc. 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. More specifically,the plaintiff alleges that between December 8, 2020, and March 8, 2022, Stitch Fix, Inc repeatedly assured investors that the Company's Freestyle business was "an additive experience" and "complimentary" 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, throughout the Class Period, Stitch Fix concealed the fact 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. As a result of these misrepresentations and omissions, Stitch Fix's Class A common stock traded at artificially inflated prices between December 8, 2020, and March 8, 2022.
Those who purchased shares of Stitch Fix, Inc. (NASDAQ: SFIX) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About:
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Stitch Fix, Inc. (NASDAQ: SFIX) Long Term Investor Alert: Investigation of Potential Wrongdoing
An investigation on behalf of current long term investors in Stitch Fix, Inc. (NASDAQ: SFIX) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NASDAQ: SFIX stockholders should contact the Shareholders Foundation.