A lawsuit was filed on behalf of investors in The RealReal, Inc. (NASDAQ: REAL) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 12/11/2019 -- An investor, who purchased shares of The RealReal, Inc. (NASDAQ: REAL), filed a lawsuit over alleged violations of Federal Securities Laws by The RealReal, Inc. in connection with with RealReal's June 2019 initial public stock offering (the "IPO").
Investors who purchased shares of The RealReal, Inc. (NASDAQ: REAL) have certain options and for certain investors are short and strict deadlines running. Deadline: January 24, 2020. NASDAQ: REAL investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
San Francisco, CA based The RealReal, Inc. operates an online marketplace for consigned luxury goods. In June 2019, The RealReal, Inc. completed its initial public offering ("IPO"), selling 17.25 million shares at $20.00.
On August 13, 2019, The RealReal, Inc. disclosed that its average order value for second quarter 2019 results was just $452.61, or essentially flat year-over-year, due to promotional activity by retailers.
Shares of The RealReal, Inc. (NASDAQ: REAL) declined to as low as $12.58 per share on August 28, 2019.
The plaintiff claims that the Registration Statement that was issued in connection with the IPO featured allegedly false and/or misleading statements and/or failed to disclose that the Company's employees received little training on how to spot fake items, that the Company's strict quotas on its employees exacerbated product authentication issues, that consequently, the potential for counterfeit or mislabeled items to make it through Company's authentication process was higher than disclosed, and that as a result, defendants' statements about RealReal's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Those who purchased shares of The RealReal, Inc. (NASDAQ: REAL) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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