25% Loss | FIGS Stock News | Figs Inc. Securities Class Action Lawsuit
Deadline January 3, 2023, Learn More 👉 https://bit.ly/FIGS-NYSE
25% Loss | FIGS Stock News | Figs Inc. Securities Class Action Lawsuit #FIGS #shorts
FIGS Stock News and Figs Inc
The Truth is Revealed
FIGS First Quarter Financial Results
2022 net revenues drop to a range of $510 million to $530 million compared to the previous outlook of $550 million to $560 million.
Company Press Release Announces Q1 2022 results
Revenue drops, Gross Margin Decreases, EBITDA Drops
The decrease in expected gross margin was "primarily due to a significant increase in the Company's use of air freight to help mitigate supply chain challenges."
Investors, did you purchase or otherwise acquire FIGS securities between May 27, 2021 and May 12, 2022?
Defendants made false statements and/or concealed that:
(i) defendants had inflated the Company's true ability to successfully secure repeat customers;
(ii) defendants had failed to disclose the Company's increasing dependence on air freight;
(iii) defendants had inflated the expected net revenues, gross margin, and adjusted EBITDA margin for 2022; and
(iv) as a result of the foregoing, defendants' statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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FIGS Stock News and Figs Inc
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00:00 FIGS STOCK
01:27 Levi and Korsinsky
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