BOSTON , Oct. 19, 2022 (GLOBE NEWSWIRE) -- Block & Leviton is investigating FIGS, Inc. (NYSE: FIGS) for potential securities law violations. Investors who have lost money in their FIGS, Inc. investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/figs.
What is this all about?
After the market closed on October 18, 2022, Seeking Alpha published an article on a pending lawsuit against healthcare apparel company, FIGS, Inc., in which plaintiff’s counsel stated:
“As I said in court today, our evidence will show during this trial that FIGS founders Heather Hasson and Trina Spear advertised that they invented a proprietary chemical to make their scrubs anti-microbial, kill bacteria immediately on contact, and repel liquid – even though they never did so, and knew it was false…They continued to do this even in the face of internal, expert, and consumer pushback. FIGS will not provide any scientific evidence to support their claims or the breakdown of their supposed chemical treatment for scrubs."
Previously on September 7, 2022, Spruce Point Capital Management issued a short report on FIGS with allegations including: a history of misstating financial and business metrics going back prior to the company’s May 2021 IPO, overstating total addressable market, and its founders “exaggerating their professional work history.”
Shares of FIGS, Inc. stock dropped more than 10% in intraday trading on October 19, 2022.
Who is eligible?
Anyone who purchased FIGS, Inc. stock and has lost money may be eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.
What is Block & Leviton doing?
Block & Leviton is investigating whether the Company committed securities law violations and may file an action to attempt to recover losses on behalf of investors who have lost money.
What should you do next?
If you've lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at cases@blockleviton.com, or by phone at (617) 398-5600.
Why should you contact Block & Leviton?
Many law firms have issued releases about this matter; most of those firms do not actually litigate securities class actions. Block & Leviton is a law firm that actually litigates cases. We are dedicated to obtaining significant recoveries on behalf of defrauded investors through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email cases@blockleviton.com with any questions.
This notice may constitute attorney advertising.
CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: cases@blockleviton.com
SOURCE: Block & Leviton LLP
www.blockleviton.com
