Tue, 07 Feb 2023

NEW YORK, NY / ACCESSWIRE / November 25, 2022 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

RAD Shareholders Click Here: https://www.zlk.com/pslra-1/rite-aid-lawsuit-loss-submission-form?prid=34060&wire=1
FIGS Shareholders Click Here: https://www.zlk.com/pslra-1/figs-inc-lawsuit-submission-form?prid=34060&wire=1
FRSH Shareholders Click Here: https://www.zlk.com/pslra-1/freshworks-class-action-loss-submission-form?prid=34060&wire=1

* ADDITIONAL INFORMATION BELOW *

Levi & Korsinsky, LLP, Friday, November 25, 2022, Press release picture

Rite Aid Corporation (NYSE:RAD)

RAD Lawsuit on behalf of: investors who purchased April 14, 2022 - September 28, 2022
Lead Plaintiff Deadline : December 19, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/rite-aid-lawsuit-loss-submission-form?prid=34060&wire=1

According to the filed complaint, during the class period, Rite Aid Corporation made materially false and/or misleading statements and/or failed to disclose that: (i) despite representations to the contrary, the number of new members that the Elixir pharmacy benefit management services business was adding during the selling season ending on January 1, 2023 was in material decline; (ii) Rite Aid was likely to recognize a significant charge for the impairment of goodwill related to Elixir due to a decrease in 'lives' covered by Elixir's pharmacy benefit management services business; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.

FIGS, Inc. (NYSE:FIGS)

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.
Lead Plaintiff Deadline : January 3, 2023
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/figs-inc-lawsuit-submission-form?prid=34060&wire=1

According to the filed complaint, (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.

Freshworks Inc. (NASDAQ:FRSH)

This lawsuit is on behalf of persons and entities that purchased Freshworks common stock pursuant to and/or traceable to documents issued in connection with the Company's initial public offering.
Lead Plaintiff Deadline : January 3, 2023
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/freshworks-class-action-loss-submission-form?prid=34060&wire=1

According to the complaint, the documents used to effectuate Freshworks' initial public offering were false and misleading and omitted to state that, at the time of the initial public offering, the Company's business had encountered obstacles. As a result of these obstacles, Freshworks' net dollar retention rate was plateauing, and its revenue growth rate and billings were decelerating.

You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Eduard Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP



View source version on accesswire.com:
https://www.accesswire.com/728537/CLASS-ACTION-UPDATE-for-RAD-FIGS-and-FRSH-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders

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