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CURV.US
id: 461, Created by Stan Vick, Scout
Torrid (CURV) IPO Case. Investors are fighting 90% losses back.
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C.D. California
Court2:22-cv-08375
Case numberOn September 7, 2022, Torrid (CURV) released the financial results for Q2 2022 and revised downward 2022 net sales guidance.
In July 2021, Torrid conducted a successful IPO. By the end of September 2022, the price of Torrid stock fell over 80% below the IPO price.
Earlier in 2022, Torrid made several material steps to correct the business prospects:
- senior management changes;
- promotional activity in the short term to sell excess inventory;
Taking all information, projections, and representations made during IPO, investors have reasons to suspect that the Company, its Leaders, and related to IPO service providers acted not in the best their interests by misleading shareholders on material facts.
Alleged Offence
Misleading Statements,
Financial Misrepresentation,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management,
Shareholder,
Investment Bank,
Service Provider
Security Type
Stocks
Trade Direction
Long
Shock Event Date
09 December 2022
Filing date
16 November 2022
Judge
Hon. Percy Anderson