Have you lost money on Rent the Runway? If yes, please visit us Class Action by Rent the Runway, Inc. Stockholders or contact Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com to discuss your rights.

NEW YORK, Nov. 18, 2022 (GLOBE NEWSWIRE) — Bernstein Liebhard LLP announces that it has filed a securities class action on behalf of investors who have purchased or otherwise acquired Class A common stock of Rent the Runway, Inc was (“RTR” or the “Company”) RENTAL FEE in or attributable to the Company’s initial public offering in October 2021 (the “IPO”). The lawsuit was filed in the United States District Court for the Eastern District of New York alleging violations of the Securities Act of 1933.

RTR is an e-commerce platform that allows users to rent, subscribe or buy designer clothing and accessories. RTR offers high-end apparel such as evening wear and accessories, as well as more causal and mixed items such as ready-to-wear, workwear, denim, maternity wear, outerwear, blouses, knitwear, loungewear, jewellery, handbags, sportswear, skiwear, homeware and children’s wear. RTR sources its products from over 750 luxury brand partners.

RTR’s business has been severely impacted by the COVID-19 pandemic that began in March 2020. As a luxury apparel supplier, RTR’s sales and services suffered from stay-at-home orders and a decline in social gathering opportunities in its customer base. Between fiscal 2019 and 2020, RTR’s revenue fell nearly 40% to $157.5 million, and its total active subscribers fell nearly 60% to 54,797 active subscribers.

On October 4, 2021, the Company filed a registration statement for the initial public offering with the SEC on Form S-1, which, after several amendments, was effective on October 26, 2021 (the “Registration Statement”). On October 27, 2021, the Company filed with the SEC an IPO prospectus on Form 424B4, which included and formed a part of the registration statement (the “Prospectus”). The registration…