NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 24, 2020 to file lead plaintiff applications in a securities class action lawsuit against The RealReal, Inc. (NasdaqGS: REAL), if they purchased the Company’s shares issued in connection with its June 2019 initial public stock offering (the “IPO”). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased shares of RealReal and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nasdaqgs-real/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 24, 2020.
About the Lawsuit
RealReal and certain of its executives are charged with failing to disclose material information in its IPO Registration Statement and Prospectus, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company’s employees received little training on authentication and how to identify fake items; (ii) the product authentication process was made more onerous by strict quotas imposed on its employees; (iii); as a result, the potential for counterfeit or mislabeled items to slip through the authentication process was higher than disclosed; and (iv) as a result of the foregoing, RealReal’s statements were materially false and misleading at all relevant times.
The case is Sanders v. The Realreal, Inc. et al, 3:19cv7737.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.