San Diego, CA -- (SBWire) -- 10/25/2022 --The Shareholders Foundation announced that a deadline is coming up on October 25, 2022, in the lawsuit filed for certain investors of Stitch Fix, Inc. (NASDAQ: SFIX).
Investors who purchased shares of Stitch Fix, Inc. (NASDAQ: SFIX) have certain options and there are strict and short deadlines running. Deadline: October 25, 2022. NASDAQ: SFIX stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. District Court for the Northern District of California the plaintiff alleges on behalf of purchasers of Stitch Fix, Inc. (NASDAQ: SFIX) common shares between December 8, 2020, and March 8, 2022, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between December 8, 2020, and March 8, 2022, 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
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) Shareholder Notice: Deadline in Lawsuit on October 25, 2022
A Deadline is coming up on October 25, 2022 in the lawsuit for certain investors in Stitch Fix, Inc. (NASDAQ:SFIX) and NASDAQ: SFIX stockholders should contact the Shareholders Foundation.