The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Stitch Fix, Inc. (NASDAQ: SFIX) who purchased shares between June 8, 2018 and October 1, 2018. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the Stitch Fix lawsuit alleges that (1) Stitch Fix’s active client growth had slowed to a crawl; (2) Stitch Fix had completely shut down its television advertising campaign for 10 of the 13 weeks in fourth quarter 2018, dramatically decreasing the number of new active client additions; and (3) as a result, the Company’s current business metrics and financial prospects were not as strong as it had led the market to believe during the Class Period.
Shareholders have until December 10, 2018 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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