Investigation Alert FIGS, FRSH, ET, UPST: Johnson Fistel, LLP Encourages Long-Term Investors to Contact the Firm; Should Management be Held Accountable for Investors’ Losses?
SAN DIEGO, Jan. 28, 2023 (GLOBE NEWSWIRE) —
FIGS, Inc. (NYSE: FIGS)
Johnson Fistel, LLP is investigating potential claims on behalf of FIGS, Inc. (“FIGS” or the “Company”) (NYSE: FIGS) against certain of its officers and directors.
If you are a current, long-term shareholder of FIGS holding shares before May 27, 2021, you can click or copy and paste the link below in a browser to join this action:
https://www.cognitoforms.com/JohnsonFistel/FIGSInc2
Recently a class action complaint was filed against FIGS. The lawsuit alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company’s true ability to successfully secure repeat customers was inflated; (ii) the Company’s increasing dependence on air freight; and (iii) the expected net revenues, gross margin, and adjusted EBITDA margin for 2022 were inflated.
Freshworks Inc. (NASDAQ: FRSH)
Johnson Fistel, LLP is investigating potential claims on behalf of Freshworks, Inc. (“Freshworks” or the “Company”) (NASDAQ: FRSH) against certain of its officers and directors.
If you have continuously owned Freshworks shares since September 2021, you can click or copy and paste the link below in a browser to join this action:
https://www.cognitoforms.com/JohnsonFistel/FreshworksInc2
Recently a class action complaint was filed against Freshworks. 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.
Energy Transfer LP (NYSE: ET)
Johnson Fistel, LLP is investigating potential claims on behalf of Energy Transfer LP (“Energy Transfer” or the “Company”) (NYSE: ET) against certain of its officers and directors.
If you have continuously owned Energy Transfer shares before April 13, 2017, you can click or copy and paste the link below in a browser to join this action:
https://www.cognitoforms.com/JohnsonFistel/EnergyTransferLP
Recently a class action complaint was filed against Energy Transfer. In the Complaint, Plaintiff alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (a) Energy Transfer had inadequate internal controls and procedures to prevent contractors from engaging in illegal conduct with regards to drilling activities, and/or failed to properly mitigate known issues related to such controls and procedures; (b) Energy Transfer, through its subsidiary Rover Pipeline, LLC (“Rover”), hired a third-party contractor to conduct Horizontal Directional Drilling Activities (“HDD”) for the Rover Pipeline Project (the “Project”), whose conduct of adding illegal additives in the drilling mud caused severe pollution near the Tuscarawas River when a large inadvertent release took place on April 13, 2017 (the “April 13 Release”); and (c) Energy Transfer continually downplayed its potential civil liabilities when the Federal Energy Regulatory Commission (“FERC”) was actively investigating Energy Transfer’s wrongdoing related to the April 13 Release and consistently provided it with updated information about FERC’s findings on this matter. These issues were foreseeably likely to subject Energy Transfer to increased governmental scrutiny and enforcement, as well as increased reputational and financial harm, and would also materially impact Energy Transfer’s financial results.
Upstart Holdings, Inc. (NASDAQ: UPST)
Johnson Fistel, LLP is investigating potential claims on behalf of Upstart Holdings, Inc. (NASDAQ: UPST) against certain of its officers and directors.
If you have continuously owned Upstart shares before March 18, 2021, you can click or copy and paste the link below in a browser to join this action:
https://www.cognitoforms.com/JohnsonFistel/UpstartHoldingsInc
Recently a class action complaint was filed against Upstart. The filed complaint alleges that the defendants made false statements and/or concealed that: (1) Upstart’s AI model could not adequately account for macroeconomic factors such as interest rates that impact the market-clearing price for loans; (2) as a result, Upstart was experiencing a negative impact on its conversion rate; (3) as a result, the Company was reasonably likely to use its balance sheet to fund loans; and (4) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, Lead Securities Analyst
Telephone: (619) 814-4471
Email: [email protected]
