An investigation on behalf of current long term investors in FIGS, Inc. (NYSE:FIGS) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NYSE:FIGS stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/03/2023 -- An investigation on behalf of current long-term investors in shares of FIGS, Inc. (NYSE: FIGS) concerning potential breaches of fiduciary duties by certain directors and officers of FIGS, Inc. was announced.
Investors who are current long term investors in FIGS, Inc. (NYSE: FIGS) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NYSE: FIGS stocks follows a lawsuit filed against FIGS, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: FIGS stocks, concerns whether certain FIGS directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Central District of California the plaintiff alleges that the Registration Statement claimed that due to the Company's access to significant customer data, it was able to maintain an efficient and steady supply chain, that the truth was, however, that the Company's access to data did not allow it to mitigate supply chain problems through predictable sales, that instead, FIGS had to increasingly rely on air freight that costs materially more than the overseas shipping it was previously reliant on, that the Registration Statement blamed the COVID-19 pandemic for the use of air freight in the time leading up to the IPO, and that the truth, was, however, that FIGS was continually relying on air freight for its business. Even after the IPO, as the Company continued to rely on cost air freight, the defendants continued to claim that air freight was transitory.
Those who purchased shares of FIGS, Inc. (NYSE: FIGS) have certain options and should contact the Shareholders Foundation.
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About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.