Stitch Fix Loss Submission Form

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 Class A common stock between December 8, 2020, and March 8, 2022. 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.

According to the filed complaint, Stitch Fix made numerous false and misleading statements to investors concerning the synergy between the Company’s Fix and Freestyle programs, and repeatedly denied claims that the Freestyle program could cannibalize the Company’s legacy Fix business. Specifically, Stitch Fix repeatedly assured investors that the Company’s Freestyle business was “an additive experience” and “complementary” to the Fix business, that “the combination of those two things will allow us to address many more types of clients,” and that “we see solid growth in both sides of the business.” In truth, Stitch Fix concealed that these programs were not complementary or additive. Stitch Fix knew that the Freestyle program would be much preferred to the Company’s original Fix model and that the Freestyle program would inevitably cannibalize the Company’s legacy Fix business.

Shareholders have until October 25, 2022 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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