SHAREHOLDER ALERT - Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Class Action Against Stitch Fix, Inc. (SFIX) & Lead Plaintiff Deadline: December 10, 2018
NEW YORK, Oct. 12, 2018 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Stitch Fix, Inc. ("Stitch Fix" or the "Company") (NASDAQ: SFIX) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Stitch Fix securities between June 8, 2018 and October 1, 2018, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/sfix.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Stitch Fix's sales growth prospects were not as positive as stated because active client growth had dramatically slowed; (2) defendants had ceased running a television advertising campaign for much of the fourth quarter of 2018; and (3) as a result, defendants' statements were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On October 1, 2018, after-market hours, Stitch Fix revealed its fourth-quarter financial results ending July 28, 2018, reporting lower revenue and active client numbers. Following this news, on October 2, 2018, Stitch Fix stock dropped almost $16 per share, or over 35%, on unusually high trading volume.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/sfix or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Stitch Fix you have until December 10, 2018 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.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC
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