SAN DIEGO, Dec. 13, 2022 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a deadline is coming up in the lawsuit that was filed for certain investors in Rent the Runway, Inc. (NASDAQ: RENT) shares.
Investors who purchased in excess of $100,000 in shares of Rent the Runway, Inc. have certain options and there are deadlines running. Deadline: January 23, 2023. NASDAQ: RENT investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On November 14, 2022, a lawsuit was filed against Rent the Runway, Inc. over alleged securities laws violations in connection with Rent the Runway's October 27, 2021 initial public offering (“IPO”).
The plaintiff alleges that the IPO's offering documents failed to disclose the following material facts, that Rent the Runway was continuing to face extraordinary business headwinds, such as transportation headwinds and labor wage rate increases, from the COVID-19 pandemic, that Rent the Runway's active subscriber enrollments had sharply decelerated from the growth trajectory represented in the offering documents and, as a result, Rent the Runway was several months away from approaching its pre-pandemic levels of active subscriptions, that Rent the Runway needed to substantially increase marketing and advertising costs from historical figures in order to attempt to grow its active subscriber network, and that as a result, Rent the Runway was suffering accelerating operational losses at the time of the IPO and was far less likely to achieve profitability in the near term, if ever, than represented.
Those who purchased NASDAQ: RENT shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a 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. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
