RENT THE RUNWAY SHAREHOLDER ALERT: CLAIMSFILER REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Rent the Runway, Inc. - RENT
NEW ORLEANS, Nov. 22, 2022 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until January 13, 2023 to file lead plaintiff applications in a securities class action lawsuit against Rent the Runway, Inc. (“RTR”) (NasdaqGS: RENT), if they purchased or acquired the Company’s shares pursuant and/or traceable to the Company’s October 2021 initial public offering (the “IPO”). This action is pending in the United States District Court for the Eastern District of New York.
Rent the Runway investors should visit us at https://claimsfiler.com/cases/nasdaq-rent-1/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
RTR and certain of its executives and others are charged wih failing to disclose material information in its IPO Registration Statement and Prospectus, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that at the time of the IPO: (i) the Company was continuing to face extraordinary business challenges from the COVID-19 pandemic, such as transportation headwinds and labor wage rate increases; (ii) active subscriber enrollments had sharply decelerated from the growth trajectory represented; (iii) the Company needed to substantially increase marketing and advertising costs from historical figures in order to attempt to grow its active subscriber network; (iv) the Company was suffering from ballooning fulfillment and transportation costs; and (v) as a result of the foregoing, the Company was suffering accelerating operational losses and was far less likely to achieve profitability in the near term.
The case is Sharma v. Rent The Runway, Inc. et al., No. 22-cv-6935.
ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
To learn more about ClaimsFiler, visit www.claimsfiler.com.
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