NEW ORLEANS, Nov. 15, 2022 (GLOBE NEWSWIRE) — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Louisiana Attorney General Charles C. Foti, Jr., remind investors that they still have time January 3, 2023 Lead plaintiff motions in a securities class action lawsuit against FIGURES, Inc. (NYSE: FIGURES) if they acquired the Company’s securities between May 27, 2021 and May 12, 2022 inclusive (the “Collection Period”) and/or Shares pursuant to the Company’s initial public offering in June 2021 (the “IPO”). This lawsuit is pending in the United States District Court for the Central District of California.
What you can do
As above, if you have purchased FIG 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 may contact KSF Managing Partner Lewis Kahn Toll at no obligation or cost to you contact us toll-free at 1-877-515-1850 or email ([email protected]) or visit us https://www.ksfcounsel.com/cases/nyse-figs/ to learn more. If you wish to be a lead plaintiff in this class action lawsuit, you must petition the court January 3, 2023.
About the lawsuit
FIG and certain of its officers are alleged to have failed to disclose material information during the Class Period and/or in the registration statement and prospectus issued in connection with the IPO, in violation of federal securities laws.
On May 12, 2022, the Company reported disappointing first quarter 2022 financial results and full year 2022 outlook and provided decreases in expected 2022 net income, adjusted gross EBITDA margin and expected gross margin due to a “significant increase in air consumption Company’s “Announced Cargo to Mitigate Supply Chain Challenges” and that “[f]For the remainder of the year, we plan to significantly increase our use of air freight to reduce our exposure to these unpredictable transit times,” despite the company’s previous assurances of its ability…
Continue to read on GlobeNewswire https://www.globenewswire.com/news-release/2022/11/16/2556773/6713/en/FIGS-SHAREHOLDER-ALERT-BY-FORMER-LOUISIANA-ATTORNEY-GENERAL-KAHN-SWICK-FOTI-LLC-REMINDS-INVESTORS-WITH-LOSSES-IN-EXCESS-OF-100-000-of-Lead-Plaintiff-Deadline-in-Class-Action-Lawsui.html