NEW YORK, NY / ACCESSWIRE / October 20, 2022 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.
SFIX Shareholders Click Here: https://www.zlk.com/pslra-1/stitch-fix-class-action-loss-submission-form?prid=32820&wire=1
ABT Shareholders Click Here: https://www.zlk.com/pslra-1/abbott-laboratories-class-action-lawsuit-submission-form?prid=32820&wire=1
PYPL Shareholders Click Here: https://www.zlk.com/pslra-1/paypal-lawsuit-loss-submission-form?prid=32820&wire=1
* ADDITIONAL INFORMATION BELOW *
Stitch Fix, Inc. (NASDAQ:SFIX)
This lawsuit is on behalf of purchasers of Stitch Fix Class A common stock between December 8, 2020, and March 8, 2022, inclusive.
Lead Plaintiff Deadline: October 25, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/stitch-fix-class-action-loss-submission-form?prid=32820&wire=1
According to the filed complaint, Stitch Fix made numerous false and misleading statements to investors concerning the synergy between the Company's Fix and Freestyle programs, and repeatedly denied claims that the Freestyle program could cannibalize the Company's legacy Fix business. Specifically, Stitch Fix repeatedly assured investors that the Company's Freestyle business was "an additive experience" and "complementary" to the Fix business, that "the combination of those two things will allow us to address many more types of clients," and that "we see solid growth in both sides of the business." In truth, Stitch Fix concealed that these programs were not complementary or additive. Stitch Fix knew that the Freestyle program would be much preferred to the Company's original Fix model and that the Freestyle program would inevitably cannibalize the Company's legacy Fix business.
Abbott Laboratories (NYSE:ABT)
This lawsuit is on behalf of all persons or entities who purchased or otherwise acquired shares of Abbott common stock during the period from February 19, 2021, to June 8, 2022, inclusive.
Lead Plaintiff Deadline: October 31, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/abbott-laboratories-class-action-lawsuit-submission-form?prid=32820&wire=1
According to the filed complaint, defendants touted the strength of Abbott's infant formula brands and their contribution to the Company's sales and revenue growth, despite knowing that the facility that manufactured those products was in flagrant violations of United States Food and Drug Administration ("FDA") health, safety, and manufacturing regulations. The complaint further alleges that defendants willfully or recklessly concealed these violations from investors, even though the violations put Abbott's infant formula business in dire jeopardy and left the Company exposed to a risk of severe regulatory action, including the recall of its products and closure of the Sturgis facility. Indeed, according to the complaint, defendants received direct warnings, communications, FDA inspection reports, and consumer complaints identifying in detail the safety and regulatory violations that were rampant at the Sturgis facility.
PayPal Holdings, Inc. (NASDAQ:PYPL)
This lawsuit is on behalf of all persons or entities who purchased PayPal common stock between February 3, 2021, and February 1, 2022, inclusive.
Lead Plaintiff Deadline: December 5, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/paypal-lawsuit-loss-submission-form?prid=32820&wire=1
According to the filed complaint, (1) defendants had inflated the Company's vitally important Net New Active Accounts metric guidance through an usually large use of marketing campaigns that were easily susceptible to fraud; i.e. the creation of millions of illegitimate accounts which were created for the sole purpose of taking advantage of cash incentives for account creation; (2) defendants used these marketing campaigns and other incentives to hide the Company's true churn rate and declining levels of engagement with the platform; and (3) as a result, defendants' positive statements about the Company's business, operations, and prospects were materially false and misleading and /or lacked a reasonable basis at all relevant times.
You have until the lead plaintiff deadlines 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.
Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Eduard Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
SOURCE: Levi & Korsinsky, LLP