Lead Plaintiff Deadline: January 13, 2023
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Class A common stock in or traceable to the Company’s October 2021 initial public offering
(i) Rent the Runway was continuing to face extraordinary business headwinds, such as transportation headwinds and labor wage rate increases, from the COVID-19 pandemic; (ii) Rent the Runway’s active subscriber enrollments had sharply decelerated from the growth trajectory represented in the offering documents and, as a result, Rent the Runway was several months away from approaching its pre-pandemic levels of active subscriptions; (iii) Rent the Runway needed to substantially increase marketing and advertising costs from historical figures in order to attempt to grow its active subscriber network; (iv) Rent the Runway was suffering from ballooning fulfillment and transportation costs; and (v) as a result, Rent the Runway was suffering accelerating operational losses at the time of the initial public offering and was far less likely to achieve profitability in the near term, if ever, than represented.
In order to be included in the lawsuit, you must have incurred a loss on shares of Rent the Runway purchased or acquired during the class period listed above.
If you suffered a loss in Rent the Runway during the relevant time frame, you have until January 13, 2023 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.