NEW YORK, NY / ACCESSWIRE / January 13, 2023 / 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.
CURV Shareholders Click Here: https://www.zlk.com/pslra-1/torrid-holdings-class-action-submission-form?prid=35623&wire=1
SGLY Shareholders Click Here: https://www.zlk.com/pslra-1/singularity-future-technology-lawsuit-submission-form?prid=35623&wire=1
GOTU Shareholders Click Here: https://www.zlk.com/pslra-1/gaotu-lawsuit-loss-submission-form?prid=35623&wire=1
* ADDITIONAL INFORMATION BELOW *
Torrid Holdings Inc. (NYSE:CURV)
This lawsuit is on behalf of all persons who purchased Torrid common stock in or traceable to the Company's July 2021 initial public offering.
Lead Plaintiff Deadline : January 17, 2023
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/torrid-holdings-class-action-submission-form?prid=35623&wire=1
According to the filed complaint, (i) in the first half of 2021, Torrid had experienced a temporary surge in demand as a result of changed consumer behaviors in response to the COVID-19 pandemic and government stimulus and that such ephemeral demand trends had dissipated and were not internally projected to continue following the initial public offering ("IPO"); (ii) Torrid was suffering from severe supply chain disruptions caused by the emergence of the Delta variant of COVID-19, which had first emerged in May 2021; (iii) Torrid was running materially below historical inventory levels as a result of supply chain disruptions; (iv) as a result, Torrid did not have sufficient inventory to meet expected consumer demand for its fiscal third quarter of 2021; (v) as a result, late inventory arrival had materially impaired the Company from effectively matching consumer buying trends, creating an undisclosed risk of increased markdowns and promotional activities necessary to sell undesirable inventory; (vi) Torrid's Chief Financial Office planned to retire shortly after the IPO; and (vii) as a result of the above, representations made in the Company's registration statement regarding Torrid's historical financial and operational metrics and purported market opportunities did not accurately reflect the actual business, operations, financial results, and trajectory of the Company at the time of the IPO, and were materially false and misleading and lacked a reasonable factual basis.
Singularity Future Technology Ltd. (NASDAQ:SGLY)
SGLY Lawsuit on behalf of: investors who purchased February 12, 2021 - November 17, 2022
Lead Plaintiff Deadline : February 7, 2023
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/singularity-future-technology-lawsuit-submission-form?prid=35623&wire=1
According to the filed complaint, during the class period, Singularity Future Technology Ltd. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company had misrepresented the true educational background of its former CEO, Yang Jie; 2) Yang Jie had an outstanding arrest warrant in China, had committed forgery, and was the largest shareholder and VP of Finance for a Nasdaq-listed lending company, China Commercial Credit ("CCC"), which failed after reporting massive losses; (3) there existed material related party transactions with SOS Information Technology New York Inc. (where Jie's wife was Vice President) and Rich Trading, whose CEO was defendant Lei Nie, the husband of Singularity CFO Tuo Pan; (4) Singularity director John Levy had been a director at CCC from January 2013 through December 2016 as CCC failed amidst detailed allegations that Jie, when he was an executive and shareholder in CCC, misappropriated assets; (5) the Company lacked adequate internal controls, and as a result had a heightened risk of scrutiny and was ultimately subject to a United States Attorney's Office for the Southern District of New York and SEC investigation and action as well as a potential delisting by NASDAQ; and (6) as a result, the Company's statements during the class period about the historical financial and operational metrics and purported market opportunities did not accurately reflect the actual business, operations, and financial results and trajectory of the Company, and were materially false and misleading and lacked a factual basis.
Gaotu Techedu Inc. F/K/A Gsx Techedu Inc. (NYSE:GOTU)
This lawsuit is on behalf of persons or entities who purchased or otherwise acquired publicly traded Gaotu American depository shares between March 5, 2021 and July 23, 2021, inclusive.
Lead Plaintiff Deadline : February 28, 2023
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/gaotu-lawsuit-loss-submission-form?prid=35623&wire=1
According to the filed complaint, (1) China was barring tutoring for profit in core school subjects, and this policy change would restrict foreign investment in a sector that had become essential to success in Chinese school exams; and (2) the impact such regulations would have on Gaotu's operations and profitability and the value of Company securities.
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