Figs Lawsuit FIGS | Deadline January 3, 2023
Figs Class Action Lawsuit (FIGS Lawsuit)
Investors who purchased or otherwise acquired Figs common stock during the period from May 27, 2021 – May 21, 2022 can register their information before the deadline of January 3, 2023.
Is Figs involved in a Securities Class Action Lawsuit?
Yes, a lawsuit has been filed against Figs Inc. on November 1, 2022, on behalf of shareholders during the period from May 27, 2021 through May 21, 2022.
What Is The Figs Lawsuit About?
The Figs Class Action Lawsuit (NYSE:FIGS) (Figs Class Action Lawsuit) was filed on behalf of the investors who purchased Figs (FIGS) securities between May 27, 2021 and May 21, 2022. For more on the FIGS Lawsuit please contact us today.
According to the Figs lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that:
(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, grossmargin, 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.
How much did FIGS stock drop?
Shareholders who held FIGS securities saw stock dropped nearly 25% from a close of $12.85 per share on May 12, 2022 to $9.64 per share on May 13, 2022.
What does FIGS Do?
FIGS, Inc. operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States.
It designs and sells healthcare apparel and other non-scrub offerings, such as lab coats, under scrubs, outerwear, activewear, loungewear, compression socks footwear, and masks. It also offers sports bras, performance leggings, tops, super-soft pima cotton tops, vests, and jackets.
The company markets and sells its products through its digital platform comprising website and mobile app.
FIGS, Inc. was founded in 2013 and is headquartered in Santa Monica, California.
Which Class Action Attorney Firm Can Help With The FIGS Lawsuit?
Levi & Korsinsky LLP is a Securities Class Action Law Firm. For over 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
Does It Cost Me to Join the FIGS Class Action?
No, there are no out of pocket costs for you to join the Figs Lawsuit.
What Is the Lead Plaintiff Process?
According to the Private Securities Reform Act of 1995, any investor who bought or acquired FIGS securities in the Class Period may apply for appointment as a lead plaintiff. The lead plaintiff is usually the movant who has the most financial interest in the relief sought. However, he or she must also be typical or adequate to the putative classes. The FIGS class-action lawsuit is directed by the lead plaintiff. To litigate the Figs Class Action Lawsuit, the lead plaintiff may choose any law firm it wishes. The ability of an investor to share in any future recovery is not tied to being the lead plaintiff in the FIGS Class Action Lawsuit.
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