| COMPANY |
Stitch Fix, Inc. |
| COURT |
United States District Court for the Northern District of California |
| CASE NUMBER |
18-cv-06208 |
| JUDGE |
The Hon. James Donato |
| CLASS PERIOD |
June 8, 2018, and October 1, 2018 |
| SECURITY TYPE |
Common stock |
Case Background:
On October 11, 2018, the initial complaint in this securities class action was filed against Stitch Fix, Inc. (“Stitch Fix” or the “Company”), and certain of Stitch Fix’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action lawsuit brought on behalf all persons who purchased or otherwise acquired Stitch Fix common stock between June 8, 2018, through October 1, 2018, both dates inclusive (the “Class Period”).
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose adverse information about Stitch Fix’s business and prospects, including that its active client growth had slowed dramatically and that Defendants had shut down Stitch Fix’s television advertising campaign for much of the fourth quarter of 2018. As a result of Defendants’ false statements and/or omissions, the price of Stitch Fix common stock was artificially inflated during the Class Period.
Current Status of Case:
On September 18, 2019, Lead Plaintiff filed a consolidated complaint (the “Complaint”). Defendants filed a Motion to Dismiss the Complaint on October 28. On September 30, 2020, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiff was given leave to amend the Complaint. On November 6, 2019, Lead Plaintiff filed an amended complaint (the “Amended Complaint”). Defendants filed a Motion to Dismiss the Amended Complaint on December 7, 2020. On September 30, 2021, the Court granted Defendants’ Motion to Dismiss and closed out the case. Lead Plaintiff filed a Notice of Appeal on October 29, 2021. On October 19, 2022, the Ninth Circuit Court of Appeals affirmed the dismissal of this action. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.