Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Northern District of California on behalf of shareholders of The RealReal, Inc. (NasdaqGS: REAL), if they purchased the Company’s shares issued in connection with its June 2019 initial public stock offering (the “IPO”).
RealReal and certain of its executives are charged with failing to disclose material information in its IPO Registration Statement and Prospectus, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company’s employees received little training on authentication and how to identify fake items; (ii) the product authentication process was made more onerous by strict quotas imposed on its employees; (iii); as a result, the potential for counterfeit or mislabeled items to slip through the authentication process was higher than disclosed; and (iv) as a result of the foregoing, RealReal’s statements were materially false and misleading at all relevant times.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
If you would like to discuss your legal rights regarding this case, you may, without obligation or cost to you, contact us toll free at (833) 835-1495 or fill out the loss submission form on this page.