Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against FIGS, Inc. (“FIGS” or the “Company”) (NYSE: FIGS) on behalf of FIGS stockholders. Our investigation concerns whether FIGS has violated the federal securities laws and/or engaged in other unlawful business practices.
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After the market closed on October 18, 2022, Seeking Alpha published an article on a pending lawsuit against healthcare apparel company, FIGS, Inc., in which plaintiff's counsel stated:
"As I said in court today, our 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."
Previously on September 7, 2022, Spruce Point Capital Management issued a short report on FIGS with allegations including: a history of misstating financial and business metrics going back prior to the company's May 2021 IPO, overstating total addressable market, and its founders "exaggerating their professional work history."
On this news, shares of FIGS fell by more than 10% in intraday trading on October 19, 2022.
If you purchased or otherwise acquired FIGS shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.