NEW YORK, Oct. 17, 2018 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Stitch Fix, Inc. ("Stitch Fix" or the "Company") (NASDAQ: SFIX). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Stitch Fix and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On October 1, 2018, after the close of trading, Stitch Fix reported its financial and operating results for the fourth quarter of 2018, which fell short of projected active client growth expectations. Stitch Fix disclosed that the Company had signed up far fewer than expected new active clients during the quarter and that its active client growth had plummeted by 70% quarter-over-quarter, falling from 180,000 new additions in the third quarter of 2018 to just 54,000 in the fourth quarter of 2018.
Following this news, Stitch Fix's stock price fell $15.69, or 35.16%, to close at $28.94 on October 2, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 9980
SOURCE Pomerantz LLP