Levi & Korsinsky, LLP announces that an SFIX class action lawsuit has been filed on behalf of investors who purchased Stitch Fix, Inc. (SFIX) securities between December 8, 2020, and March 8, 2022, For more on the SFIX Lawsuit please contact us today.
According to the Stitch Fix lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: 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.
If you suffered a loss in Stitch Fix you have until October 25, 2022, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171