NEW YORK, Dec. 2, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of FIGS, Inc. FIGS.

To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/figs-inc-loss-submission-form/?id=34202&from=4

This lawsuit is on behalf of all persons or entities that purchased or otherwise acquired: (i) FIGS securities between May 27, 2021 and May 12, 2022, inclusive; and/or (ii) FIGS stock pursuant and/or traceable to documents issued in connection with FIGS' initial public offering.

Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until January 3, 2023 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

According to a filed complaint, FIGS, Inc. issued materially false and/or misleading statements and/or failed to disclose 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.

Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887

SOURCE Jakubowitz Law