San Diego, CA -- (SBWIRE) -- 12/12/2023 -- ThredUp Inc. is under investigation over potential securities laws violations in connection with certain financial statements.

Investors who purchased shares of ThredUp Inc. (NASDAQ: TDUP), 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 focuses on whether a series of statements by ThredUp Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Oakland, CA based ThredUp Inc., together with its subsidiaries, operates an online resale platform in the United States and internationally.

On or around March 26, 2021, ThredUp Inc conducted its initial public offering ("IPO"), selling 12 million shares of its Class A common stock priced at $14.00 per share.

Then, on November 6, 2023, ThredUp issued its third quarter ("Q3") 2023 financial results, reporting Q3 GAAP earnings-per-share of -$0.17, missing consensus estimates by $0.01, and Q3 revenue of $82 million, missing consensus estimates by $0.95 million. The following day, The Motely Fool published an article entitled "Why ThredUp Stock Plunged 36% Today", noting, among other things, that "[t]he problem for ThredUp is that revenue growth hasn't led to the kind of operating margins that investors hoped for" while the Company "keeps burning cash," and that "ThredUp's concept, selling products on consignment and secondhand, is interesting, but it hasn't proven to be profitable."

Shares of ThredUp Inc. (NASDAQ: TDUP) declined to as low as $1.86 per share on November 09, 2023.

Those who purchased shares of ThredUp Inc. (NASDAQ: TDUP) 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.