||Stitch Fix, Inc.
||United States District Court for the Northern District of California
||The Hon. James Donato
||Between June 8, 2018, and October 1, 2018
On October 11, 2018, the initial complaint in this securities class action was filed against Stitch Fix, Inc. (“Stitch Fix”), and certain of Stitch Fix’s directors and officers, asserting violations of sections 10(b) and 20(a) of the Securities Exchange Act.
The complaint alleged that throughout the class period, the 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 the defendants had shut down Stitch Fix’s television advertising campaign for much of the fourth quarter of 2018. As a result of the defendants’ false statements and/or omissions, the price of Stitch Fix common stock was artificially inflated during the class period.
This securities class action lawsuit was brought on behalf all purchasers of Stitch Fix common stock between June 8, 2018, and October 1, 2018, inclusive.
Current Status of Case:
On September 18, 2019, the lead plaintiff filed a consolidated complaint. The defendants filed a motion to dismiss the consolidated complaint on October 28, 2019. On September 30, 2020, the Court issued an Order granting the defendants' motion to dismiss. The lead plaintiff was given leave to amend the complaint. On November 6, 2020, the lead plaintiff filed an amended complaint. This action is still ongoing.
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Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-844-887-9500 (toll free) or 1-610-667-7706
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