ATLANTA, GA / ACCESSWIRE / November 21, 2022 / Holzer & Holzer, LLC informs investors that a class action lawsuit was filed against Rent the Runway, Inc. ("Rent the Runway" or the "Company") (NASDAQ:RENT). The lawsuit alleges Rent the Runway's Registration Statement contained materially false and/or misleading statements and/or failed to disclose that: (1) the Company was facing extraordinary business headwinds due to the pandemic; (2) that active subscriber enrollments had sharply decelerated; (3) the Company needed to substantially increase marketing and advertising costs in order to attempt to grow its active subscriber network; (4) that fulfillment and transportation costs were ballooning; (5) as a result, the Company was suffering accelerating operational losses at the time of the IPO and was far less likely than was represented to achieve profitability in the near term.
If you bought shares of Rent the Runway pursuant and/or traceable to the Company's October 2021 IPO and you suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey Holzer, Esq. at [email protected] or Joshua Karr, Esq. at [email protected], by toll-free telephone at (888) 508-6832 or you may visit the firm's website at https://holzerlaw.com/case/rent-the-runway/ to learn more.
The deadline to ask the court to be appointed lead plaintiff in the case is January 13, 2023.
Holzer & Holzer, LLC, an ISS top rated securities litigation law firm for 2021, dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct. More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey Holzer is the attorney responsible for its content.
Corey Holzer, Esq.
(888) 508-6832 (toll-free)
SOURCE: Holzer & Holzer