Published: Nov. 22, 2022 at 3:45 AM MST|Updated: 2 hours ago
NEW YORK, Nov. 22, 2022 /PRNewswire/ — The Klein Law Firm announced that a class action complaint has been filed on behalf of shareholders of Torrid Holdings Inc. (NYSE: CURV) alleging that the Company violated federal securities laws.
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.
Lead Plaintiff Deadline: January 16, 2023
No obligation or cost to you.
Learn more about your recoverable losses in CURV:
https://www.kleinstocklaw.com/pslra-1/torrid-class-action-lawsuit-loss-submission-form?id=33911&from=4
Torrid Holdings Inc. NEWS – CURV NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Torrid Holdings Inc. made 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 the 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.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Torrid you have until January 16, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Torrid securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the CURV lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/torrid-class-action-lawsuit-loss-submission-form?id=33911&from=4.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
535 Fifth Avenue
4thFloor
New York CityNY 10017
[email protected]
Telephone: (212) 616-4899
www.kleinstocklaw.com
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SOURCE The Klein Law Firm
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