Rent the Runway Class Action Lawsuit RENT | Deadline January 13, 2022
Announcement! A Rent the Runway class action lawsuit has been filed on behalf of investors who acquired Rent the Runway, Inc. (RENT) Class A common shares during the Company’s October 2021 initial public offering.
The Rent the Runway, Inc. lawsuit alleges that the defendants made false and/or deceptive statements and/or omitted to disclose the following throughout the Class Period:
(1) The COVID-19 pandemic was still causing Rent the Runway to experience unusual commercial challenges, including transportation challenges and rising labor costs;
(2) Rent the Runway was several months away from recovering its pre-pandemic levels of active subscriptions because the growth trajectory for the company’s active subscriber enrollments had dramatically slowed down from that depicted in the offering documents;
(3) In order to try to expand its active subscriber network, Rent the Runway had to significantly increase marketing and advertising expenses from prior levels;
(4) the rising expenses of fulfillment and delivery were affecting Rent the Runway; and
(5) As a result, Rent the Runway was much less likely to become profitable in the near future, if at all, than was indicated at the time of the IPO. It was also experiencing accelerating operational losses.
If you experienced a loss in Rent the Runway, Inc., you have until January 13, 2023, to petition the court to recognize you as the lead plaintiff. There is no requirement necessary for you to act as the main plaintiff in order to share in any recovery.
Rent The Runway Class Action Lawsuit (RENT Lawsuit)
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