ATLANTA, GA / ACCESSWIRE / November 28, 2022 / Holzer & Holzer, LLC informs investors that a class action lawsuit was filed against Torrid Holdings Inc. ("Torrid" or the "Company") (NYSE:CURV). The lawsuit alleges Torrid's Registration Statement contained materially false and/or misleading statements and/or failed to disclose that: (1) Torrid's surge in demand during the first half of 2021 was not expected to continue; (2) Torrid was suffering from severe supply chain disruptions caused by COVID-19, despite claims it was well-positioned; (3) the Company was running materially below historical inventory levels due to supply chain disruptions; (4) due to supply chain disruptions Torrid did not have sufficient inventory to meet customer demand for its fiscal third quarter of 2021; (5) as a result of supply chain disruptions, late inventory arrival had materially impaired the Company from effectively matching consumer buying trends, creating an undisclosed risk of increased markdowns and promotional activities to sell undesirable inventory; and (6) that Torrid's then CFO planned to retire shortly after the Company's IPO.
If you bought shares of Torrid pursuant and/or traceable to the Company's July 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 j[email protected], by toll-free telephone at (888) 508-6832 or you may visit the firm's website at https://holzerlaw.com/case/torrid/ to learn more.
The deadline to ask the court to be appointed lead plaintiff in the case is January 17, 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: Lowey Dannenberg