The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of FIGS, Inc. (NYSE: FIGS) who purchased (i) securities between May 27, 2021 and May 12, 2022, inclusive; and/or (ii) stock pursuant and/or traceable to documents issued in connection with FIGS' initial public offering. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the FIGS lawsuit alleges that (i) defendants had inflated the Company's true ability to successfully secure repeat customers; (ii) defendants had failed to disclose the Company's increasing dependence on air freight; (iii) defendants had inflated the expected net revenues, gross margin, and adjusted EBITDA margin for 2022; and (iv) as a result of the foregoing, defendants' statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Shareholders have until January 3, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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