Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil EL&P Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries The Law Offices of Frank R. Cruz Announces Investigation of Rent the Runway, Inc. (RENT) on Behalf of Investors By: The Law Offices of Frank R. Cruz via Business Wire November 15, 2022 at 14:41 PM EST The Law Offices of Frank R. Cruz announces an investigation of Rent the Runway, Inc. (“RTR” or the “Company”) (NASDAQ: RENT) on behalf of investors concerning the Company’s possible violations of federal securities laws. If you are a shareholder who suffered a loss, click here to participate. In October 2021, RTR conducted its initial public offering (“IPO”), selling 17 million shares of Class A common stock at $21 per share. On December 8, 2021, RTR announced its third quarter 2021 financial results, disclosing that the Company had suffered a quarterly net loss of $87.8 million while its fulfillment expenses had increased by 75% and its marketing expenses had increased from $1.4 million to $10.8 million. The Company also reported a deceleration in active subscriber growth. Then, on April 13, 2022, RTR reported that its active subscribers had declined during fourth quarter 2021, while its fulfillment and marketing expenses remained elevated compared to historical trends. Then, on September 12, 2022, RTR disclosed that it only had 124,131 active subscribers. The Company also announced a “restructuring plan” to reduce costs, which included a 24% workforce reduction. On this news, RTR’s stock fell $1.91, or 38.7%, to close at $3.02 per share on September 13, 2022, thereby injuring investors. By October 2022, the price of RTR Class A common stock had fallen below $2 per share, 90% below the IPO price. Follow us for updates on Twitter: twitter.com/FRC_LAW. If you purchased RTR securities, have information or 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. View source version on businesswire.com: https://www.businesswire.com/news/home/20221115006416/en/Contacts The Law Offices of Frank R. Cruz, Los Angeles Frank R. Cruz, 310-914-5007 fcruz@frankcruzlaw.com www.frankcruzlaw.com Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
The Law Offices of Frank R. Cruz Announces Investigation of Rent the Runway, Inc. (RENT) on Behalf of Investors By: The Law Offices of Frank R. Cruz via Business Wire November 15, 2022 at 14:41 PM EST The Law Offices of Frank R. Cruz announces an investigation of Rent the Runway, Inc. (“RTR” or the “Company”) (NASDAQ: RENT) on behalf of investors concerning the Company’s possible violations of federal securities laws. If you are a shareholder who suffered a loss, click here to participate. In October 2021, RTR conducted its initial public offering (“IPO”), selling 17 million shares of Class A common stock at $21 per share. On December 8, 2021, RTR announced its third quarter 2021 financial results, disclosing that the Company had suffered a quarterly net loss of $87.8 million while its fulfillment expenses had increased by 75% and its marketing expenses had increased from $1.4 million to $10.8 million. The Company also reported a deceleration in active subscriber growth. Then, on April 13, 2022, RTR reported that its active subscribers had declined during fourth quarter 2021, while its fulfillment and marketing expenses remained elevated compared to historical trends. Then, on September 12, 2022, RTR disclosed that it only had 124,131 active subscribers. The Company also announced a “restructuring plan” to reduce costs, which included a 24% workforce reduction. On this news, RTR’s stock fell $1.91, or 38.7%, to close at $3.02 per share on September 13, 2022, thereby injuring investors. By October 2022, the price of RTR Class A common stock had fallen below $2 per share, 90% below the IPO price. Follow us for updates on Twitter: twitter.com/FRC_LAW. If you purchased RTR securities, have information or 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. View source version on businesswire.com: https://www.businesswire.com/news/home/20221115006416/en/Contacts The Law Offices of Frank R. Cruz, Los Angeles Frank R. Cruz, 310-914-5007 fcruz@frankcruzlaw.com www.frankcruzlaw.com
The Law Offices of Frank R. Cruz announces an investigation of Rent the Runway, Inc. (“RTR” or the “Company”) (NASDAQ: RENT) on behalf of investors concerning the Company’s possible violations of federal securities laws. If you are a shareholder who suffered a loss, click here to participate. In October 2021, RTR conducted its initial public offering (“IPO”), selling 17 million shares of Class A common stock at $21 per share. On December 8, 2021, RTR announced its third quarter 2021 financial results, disclosing that the Company had suffered a quarterly net loss of $87.8 million while its fulfillment expenses had increased by 75% and its marketing expenses had increased from $1.4 million to $10.8 million. The Company also reported a deceleration in active subscriber growth. Then, on April 13, 2022, RTR reported that its active subscribers had declined during fourth quarter 2021, while its fulfillment and marketing expenses remained elevated compared to historical trends. Then, on September 12, 2022, RTR disclosed that it only had 124,131 active subscribers. The Company also announced a “restructuring plan” to reduce costs, which included a 24% workforce reduction. On this news, RTR’s stock fell $1.91, or 38.7%, to close at $3.02 per share on September 13, 2022, thereby injuring investors. By October 2022, the price of RTR Class A common stock had fallen below $2 per share, 90% below the IPO price. Follow us for updates on Twitter: twitter.com/FRC_LAW. If you purchased RTR securities, have information or 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. View source version on businesswire.com: https://www.businesswire.com/news/home/20221115006416/en/
The Law Offices of Frank R. Cruz, Los Angeles Frank R. Cruz, 310-914-5007 fcruz@frankcruzlaw.com www.frankcruzlaw.com