NEW
YORK, Nov. 30, 2022 /PRNewswire/ -- The Gross
Law Firm issues the following notice to shareholders of Torrid
Holdings Inc..
Shareholders who purchased shares of CURV during the class
period listed are encouraged to contact the firm regarding possible
lead plaintiff appointment. Appointment as lead plaintiff is not
required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/torrid-holdings-inc-loss-submission-form/?id=34124&from=4
CLASS PERIOD: This lawsuit is on behalf of all persons
who purchased Torrid common stock in or traceable to the Company's
July 2021 initial public
offering.
ALLEGATIONS: The complaint alleges that during the class
period, Defendants issued materially false and/or misleading
statements and/or failed to disclose that: (i) in the first half of
2021, Torrid had experienced a temporary surge in demand as a
result of changed consumer behaviors in response to the COVID-19
pandemic and government stimulus and that such ephemeral demand
trends had dissipated and were not internally projected to continue
following the initial public offering ("IPO"); (ii) Torrid was
suffering from severe supply chain disruptions caused by the
emergence of the Delta variant of COVID-19, which had first emerged
in May 2021; (iii) Torrid was running
materially below historical inventory levels as a result of supply
chain disruptions; (iv) as a result, Torrid did not have sufficient
inventory to meet expected consumer demand for its fiscal third
quarter of 2021; (v) as a result, late inventory arrival had
materially impaired the Company from effectively matching consumer
buying trends, creating an undisclosed risk of increased markdowns
and promotional activities necessary to sell undesirable inventory;
(vi) Torrid's Chief Financial Office planned to retire shortly
after the IPO; and (vii) as a result of the above, representations
made in the Company's registration statement regarding Torrid's
historical financial and operational metrics and purported market
opportunities did not accurately reflect the actual business,
operations, financial results, and trajectory of the Company at the
time of the IPO, and were materially false and misleading and
lacked a reasonable factual basis.
DEADLINE: January 17, 2023
Shareholders should not delay in registering for this class action.
Register your information here:
https://securitiesclasslaw.com/securities/torrid-holdings-inc-loss-submission-form/?id=34124&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a
shareholder who purchased shares of CURV during the timeframe
listed above, you will be enrolled in a portfolio monitoring
software to provide you with status updates throughout the
lifecycle of the case. The deadline to seek to be a lead plaintiff
is January 17, 2023. There is no cost
or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is nationally
recognized class action law firm, and our mission is to protect the
rights of all investors who have suffered as a result of deceit,
fraud, and illegal business practices. The Gross Law Firm is
committed to ensuring that companies adhere to responsible business
practices and engage in good corporate citizenship. The firm seeks
recovery on behalf of investors who incurred losses when false
and/or misleading statements or the omission of material
information by a company lead to artificial inflation of the
company's stock. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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SOURCE The Gross Law Firm