Torrid Class Action Lawsuit CURV | Deadline January 17, 2023
Great news! On behalf of all investors who bought or otherwise acquired Torrid Holdings Inc. (Torrid Class Action Lawsuit) common stock in or traceable to the Company’s July 2021 initial public offering, have an opportunity to join the CURV lawsuit.
According to Torrid’s lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that:
(i) Following the initial public offering(“IPO”), such ephemeral demand trends were not expected to persist because they had disappeared in the first half of 2021 as a result of altered consumer behaviors brought on by the COVID-19 epidemic and government stimulus;
(ii) Torrid was experiencing major supply chain difficulties as a result of the May 2021 initial appearance of COVID-19’s Delta variant;
(iii) Due to supply chain problems, Torrid’s inventory levels were considerably below historical levels;
(iv) Torrid did not have enough stock to meet anticipated consumer demand for the third fiscal quarter of 2021 as a result;
(v) as a result, the Company’s ability to properly match consumer buying trends had been considerably hampered by late inventory arrival, posing an unreported risk of increasing markdowns and promotional activities required to move undesired inventory;
(vi) After the IPO, Torrid’s chief financial officer intended to retire; and
(vii) Due to the aforementioned, statements made in the company’s registration statement about Torrid’s historical financial and operational metrics and alleged market opportunities did not accurately reflect the company’s actual operations, financial results, and trajectory at the time of the IPO. These statements were also materially false and misleading and lacked a reasonable factual basis.
If you suffered a loss in CURV Lawsuit, you have until January 17, 2023, to request that the Court appoint you as the lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Torrid Class Action Lawsuit (CURV Lawsuit)
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