NEW
YORK, Oct. 21, 2022 /PRNewswire/ -- Jakubowitz
Law announces that a securities fraud class action lawsuit has
commenced on behalf of shareholders of Stitch Fix, Inc. (NASDAQ:
SFIX).
To receive updates on the lawsuit, fill out the
form:
https://claimyourloss.com/securities/stitch-fix-inc-loss-submission-form/?id=32776&from=4
This lawsuit is on behalf of purchasers of Stitch Fix Class A
common stock between December 8,
2020, and March 8, 2022,
inclusive.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
October 25, 2022 to petition
the court. Your ability to share in any recovery doesn't require
that you serve as a lead plaintiff.
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.
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities fraud. Attorney
advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
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SOURCE Jakubowitz Law