NEW YORK, November 26, 2022 /PRNewswire/ —
WHY: Rosen Law Firm, a global investor rights law firm, reminds buyers of Torrid Holdings (NYSE: CURV) securities pursuant to and/or traceable to the Company’s IPO completed in July 2021 (the “IPO”), the substantial January 17, 2023 lead applicant deadline.
SO WHAT: If you purchased Torrid securities, you may be entitled to compensation without payment of out-of-pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Torrid class action, go to https://rosenlegal.com/submit-form/?case_id=9874 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email [email protected] Where [email protected] for more information on the class action. A class action lawsuit has already been filed. If you wish to act as lead plaintiff, you must move the Court not later than January 17, 2023. A lead plaintiff is a representative party acting on behalf of other class members to direct litigation.
WHY THE ROSEN LAW: We encourage investors to select qualified attorneys with proven track records in leadership roles. Often, companies issuing reviews do not have comparable experience, resources, or significant peer recognition. Many of these firms do not actually handle securities class action lawsuits, but are merely middlemen who refer clients or partner with law firms that actually litigate the cases. Be wise in choosing lawyers. Rosen Law Firm represents investors worldwide, focusing its practice on securities class action and shareholder derivative litigation. Rosen Law Firm has reached the largest securities class action settlement against a Chinese company. Rosen Law Firm was ranked #1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017. The firm has ranked in the top 4 every year since 2013 and has recovered hundreds of million dollars for investors. In 2019 alone, the company obtained more than $438 million for investors. In 2020, founding partner Laurence Rosen has been named by law360 as a Titan of the Plaintiffs Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
CASE DETAILS: According to the lawsuit, the IPO’s offering documents failed to disclose the following material facts: (1) in the first half of 2021, Torrid experienced a temporary increase in demand due to a change in behavior of consumers in response to the COVID-19 pandemic and government stimulus measures and that these short-lived demand trends had dissipated and were not internally expected to continue after the introduction in stock exchange ; (2) Torrid was suffering from severe supply chain disruptions caused by the emergence of the Delta variant of COVID-19, which first emerged in May 2021; (3) Torrid was operating significantly below historical inventory levels due to supply chain disruptions; (4) as a result, Torrid did not have sufficient inventory to meet expected consumer demand for its third fiscal quarter 2021; (5) as a result, the late arrival of inventory had significantly prevented the Company from effectively matching consumer buying trends, creating an undisclosed risk of increased markdowns and promotional activities necessary to sell unwanted inventory; (6) Torrid’s CFO planned to retire shortly after IPO; and (7) as a result of the foregoing, statements in the registration statement regarding Torrid’s historical financial and operating measures and purported market opportunities did not accurately reflect Torrid’s business, operations, financial results and actual trajectory of the company at the time of the IPO. , and were materially false and misleading and not based on a reasonable factual basis.
To join the Torrid class action, go to https://rosenlegal.com/submit-form/?case_id=9874 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email [email protected] Where [email protected] for more information on the class action.
No class has been certified. Until a class is certified, you are not represented by an attorney unless you retain one. You can choose the lawyer of your choice. You can also remain an absent group member and do nothing at this point. An investor’s ability to participate in any potential future recovery does not depend on their status as lead plaintiff.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, Pennsylvania
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
SOURCE Rosen Law Firm, Pennsylvania