SAN DIEGO, Nov. 25, 2022 (GLOBE NEWSWIRE) — Shareholder Rights Law Firm Johnson Fistula, LLP announces that a class action lawsuit has been commenced on behalf of investors of FIG, Inc. (“FIGS”) FIG. The Class Action is being brought on behalf of shareholders who purchased FIG securities between May 27, 2021 and May 12, 2022, or (ii) pursuant to and/or traceable to the offering documents issued in connection with the FIG IPO (the “Collection Period”). Investors are hereby notified that they have until January 3, 2023 to petition the court to join as lead plaintiff in this lawsuit.

What actions can I take at this time? If you have suffered a loss and would like to learn more about whether you are a Lead Plaintiff, please contact Jim Baker (jimb@johnsonfistula.com) via email or phone at 619-814-4471. When emailing, please include your phone number.

To participate in this promotion you can click on the following link or copy and paste it into a browser:

https://www.johnsonfistel.com/investigations/figs-inc-class-action

There are no costs or obligations for you.

The registration statement claimed that the company was able to maintain an efficient and stable supply chain due to access to vital customer data. But the truth was, the company’s access to data didn’t allow it to mitigate supply chain issues through predictable sales. Instead, FIG had to increasingly rely on air freight, which costs significantly more than the earlier overseas shipping. The registration statement blamed the COVID-19 pandemic for the pre-IPO use of air freight. However, the truth was that FIG constantly relied on air freight for its business. Even after the IPO, when the company continued to rely on low-cost air freight, the defendants continued to claim that air freight was end-to-end. Defendants, for example, stated that air freight usage peaked in the fourth quarter of 2021 and that “we are quite confident that we will see less air freight…