LOS ANGELES, Dec. 20, 2022 (GLOBE NEWSWIRE) — The law firm of Portnoy advises Rent the Runway, Inc. (“Rent the Runway” or the “Company”) RENTAL FEE Investors that a class action lawsuit has been filed on behalf of investors. Rent the Runway investors who purchased or otherwise acquired Rent the Runway Class A common stock in connection with Rent the Runway’s initial public offering on October 27, 2021 (the “IPO”) are encouraged to do so Contact Lesley Portnoy, Esq.

Investors are encouraged to contact an attorney Lesley F Portnoyby phone 844-767-8529 or E-mail: lesley@portnoylaw.comto discuss your legal rights, or click here to join the case about www.portnoylaw.com. Portnoy Law Firm can provide a free case assessment and discuss investors’ options for making claims to recover their losses.

The complaint alleges that the IPO offering documents failed to disclose the following material facts: (1) Rent the Runway continued to face exceptional business headwinds due to the COVID-19 pandemic, such as: B. Transportation headwinds and wage increases; (2) Rent the Runway’s active subscriber enrollments had slowed sharply from the growth trajectory outlined in the Offering Documents and, as a result, Rent the Runway was several months away from approaching pre-pandemic active subscription levels; (3) Rent the Runway, which is required to significantly increase marketing and advertising costs from historical numbers in an attempt to expand its active subscriber network; (4) Rent the Runway suffered from rising fulfillment and transportation costs; and (5) as a result, Rent the Runway was suffering increasing operating losses at the time of the IPO and was far less likely, if at all, to be profitable in the near future than depicted.

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Portnoy Law Firm represents investors in asserting claims against companies caused by wrongdoing. That…