FIGS, Inc.

Ryan v. FIGS, Inc. et al., (Case No. 2:22-cv-07939), C.D. Cal.

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The complaint alleges that leading up to FIGS’ IPO and throughout the class period, defendants overstated the company’s ability to secure and maintain business from repeat customers and understated its growing and continued dependence on air freight to facilitate its business. As a result, the Company’s expected financial performance for 2022 was inflated.

Shares of FIGS, Inc. stock dropped approximately 25% after the company released Q1 2022 financial results on May 13, 2022.

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