NEW YORK, Oct. 22, 2022 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of FIGS, Inc. (“FIGS” or the “Company”) (NYSE: FIGS).   Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether FIGS and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

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On or around May 27, 2021, FIGS conducted its initial public offering (“IPO”), selling 26.4 million shares of common stock priced at $22.00 per share. 

On October 18, 2022, Seeking Alpha published an article on a pending lawsuit against FIGS, in which plaintiff’s counsel stated: “[O]ur evidence will show during this trial that FIGS founders Heather Hasson and Trina Spear advertised that they invented a proprietary chemical to make their scrubs anti-microbial, kill bacteria immediately on contact, and repel liquid - even though they never did so, and knew it was false. . . . They continued to do this even in the face of internal, expert, and consumer pushback.  FIGS will not provide any scientific evidence to support their claims or the breakdown of their supposed chemical treatment for scrubs.” 

On this news, FIGS’s stock price fell $0.81 per share, or 10.32%, to close at $7.04 per share on October 19, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

CONTACT:

Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980

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