Stitch Fix, Inc. (SFIX)
Class Action & Lead Plaintiff Deadline: October 25, 2022
Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Stitch Fix, Inc. (“Stitch Fix” or “the Company”) (NASDAQ: SFIX) and certain of its current and former senior executives, and certain of the Company’s controlling shareholders on behalf of purchasers of Stitch Fix Class A common stock between December 8, 2020, and March 8, 2022, inclusive (the “Class Period”). Such investors are encouraged to join this case.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.
The complaint alleges that, throughout the Class Period, Stitch Fix made numerous false and misleading statements to investors concerning the synergy between the Company's Fix and Freestyle programs, and repeatedly denied claims that the Freestyle program could cannibalize the Company's legacy Fix business. Specifically, the complaint alleges that Stitch Fix repeatedly assured investors that the Company's Freestyle business was "an additive experience" and "complimentary" to the Fix business, that "the combination of those two things will allow us to address many more types of clients," and that "we see solid growth in both sides of the business." In truth, throughout the Class Period, Stitch Fix concealed the fact that these programs were not complementary or additive. Stitch Fix knew that the Freestyle program would be much preferred to the Company's original Fix model, and that the Freestyle program would inevitably cannibalize the Company's legacy Fix business. As a result of these misrepresentations and omissions, Stitch Fix's Class A common stock traded at artificially inflated prices during the Class Period.
A class action lawsuit has already been filed. You can review a copy of the Complaint and sign the certification form or contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Stitch Fix, you have until October 25, 2022, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.