LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors that purchased or otherwise acquired Stitch Fix, Inc. (“Stitch Fix” or the “Company”) (NASDAQ: SFIX) shares between June 8, 2018, and October 1, 2018, inclusive (the “Class Period”). Stitch Fix investors have until December 10, 2018 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
On October 1, 2018, Stitch Fix revealed its fourth-quarter financial results ending July 28, 2018, reporting lower revenue and active client numbers. On this news, shares of Stitch Fix fell nearly $16 per share, or over 35% on October 2, 2018, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) its active client growth was weakening; (2) the Company would cease its investment in television advertising; and (3) as a result, the Company’s public statements were materially false and misleading at all relevant times.
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If you purchased shares of Stitch Fix during the Class Period you may move the Court no later than December 10, 2018 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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