Rent the Runway, Inc
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
RTR conducted its IPO in October 2021, selling 17 million shares of Class A common stock at $21 per share. However, on December 8, 2021, RTR announced its Q3 2021 financial results, disclosing a net loss of $87.8 million and an increase in fulfillment and marketing expenses. Additionally, the company disclosed a deceleration in active subscriber growth. Then in April 2022, RTR reported a decline in active subscribers during Q4 2021, with elevated fulfillment and marketing expenses. On September 12, 2022, RTR announced it only had 124,131 active subscribers and announced a restructuring plan, including a 24% workforce reduction. Following this news, RTR’s stock price fell 38.7% to $3.02 per share on September 13, 2022, causing harm to investors. By October 2022, the price of RTR Class A common stock had fallen to less than $2.00 per share, 90% below the IPO price.
