LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of FIGS, Inc. (“FIGS” or “the Company”) (NYSE: FIGS) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. FIGS is the subject of an article published by Seeking Alpha on October 18, 2022. The article quotes the lawyer representing individuals in a lawsuit against the Company as saying, “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.” Based on this news, shares of FIGS fell by more than 10% in intraday trading on October 19, 2022.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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