NEW ORLEANS, Sept. 06, 2022 (GLOBE NEWSWIRE) — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Louisiana Attorney General Charles C. Foti, Jr., remind investors that they to have October 25, 2022 Lead Plaintiff’s Motions in a Securities Class Action Against Stitch Fix, Inc. SFIX, if you purchased the Company’s shares between December 8, 2020 and March 8, 2022 inclusive (the “Collection Period”). This lawsuit is pending in the United States District Court for the Northern District of California.
What you can do
If you have purchased Stitch Fix stock and would like to discuss your legal rights and how this case may affect you and your right to compensation for your economic loss, you can contact KSF Managing Partner Lewis Kahn at no obligation or cost to you. toll free at 1-877-515-1850 or email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-sfix/ to learn more. If you wish to be a lead plaintiff in this class action lawsuit, you must file a petition with the court October 25, 2022.
About the lawsuit
Stitch Fix and certain of its officers are accused of failing to disclose material information during the Class Period in violation of federal securities laws.
On December 7, 2021, the Company announced the occurrence of “short-term cannibalization” of new customers who have elected to use its new buy-it-yourself freestyle option instead of the traditional fix option, as well as a loss for its first quarter of 2021 and one Cut its full-year sales guidance. On the news, Stitch Fix shares fell $5.97 per share, or 24%, from $24.97 per share to $19.00 per share.
Then, on March 8, 2022, the Company announced a weak outlook for the third quarter of 2022 and a cut to its full-year sales guidance, as well as “frictions” that had occurred due to customers visiting stitchfix.com, the primary landing page for customers, who are interested in the fix and are directed to the freestyle experience first. About this message…
