NEW
YORK, Dec. 14, 2022 /PRNewswire/ -- The Gross
Law Firm issues the following notice to shareholders of Rent the
Runway, Inc..
Shareholders who purchased shares of RENT during the class
period listed are encouraged to contact the firm regarding possible
lead plaintiff appointment. Appointment as lead plaintiff is not
required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/rent-the-runway-inc-loss-submission-form/?id=34540&from=4
CLASS PERIOD: This lawsuit is on behalf of all persons or
entities who purchased Rent the Runway Class A common stock in or
traceable to the Company's October
2021 initial public offering.
ALLEGATIONS: The complaint alleges that during the class
period, Defendants issued materially false and/or misleading
statements and/or failed to disclose that: (i) Rent the Runway was
continuing to face extraordinary business headwinds, such as
transportation headwinds and labor wage rate increases, from the
COVID-19 pandemic; (ii) 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; (iii) Rent the Runway needed to
substantially increase marketing and advertising costs from
historical figures in order to attempt to grow its active
subscriber network; (iv) Rent the Runway was suffering from
ballooning fulfillment and transportation costs; and (v) as a
result, Rent the Runway was suffering accelerating operational
losses at the time of the initial public offering and was far less
likely to achieve profitability in the near term, if ever, than
represented.
DEADLINE: January 13, 2023
Shareholders should not delay in registering for this class action.
Register your information here:
https://securitiesclasslaw.com/securities/rent-the-runway-inc-loss-submission-form/?id=34540&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a
shareholder who purchased shares of RENT during the timeframe
listed above, you will be enrolled in a portfolio monitoring
software to provide you with status updates throughout the
lifecycle of the case. The deadline to seek to be a lead plaintiff
is January 13, 2023. There is no cost
or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is nationally
recognized class action law firm, and our mission is to protect the
rights of all investors who have suffered as a result of deceit,
fraud, and illegal business practices. The Gross Law Firm is
committed to ensuring that companies adhere to responsible business
practices and engage in good corporate citizenship. The firm seeks
recovery on behalf of investors who incurred losses when false
and/or misleading statements or the omission of material
information by a company lead to artificial inflation of the
company's stock. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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SOURCE The Gross Law Firm