NEW YORK, Nov. 17, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Torrid Holdings, Inc. (“Torrid” or the “Company”) CURV. Those investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.

The investigation concerns whether Torrid and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

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On or about July 1, 2021, Torrid completed its initial public offering (“IPO”), offering 12.65 million shares at a price of $21 per share (the “IPO Price”). Then, on September 7, 2022, Torrid issued a press release announcing the Company’s financial results for its second fiscal quarter ended July 30, 2022. The release revised Torrid’s annual net sales guidance for 2022 down to a range of $1.26 billion to $1.3 billion from a range of $1.3 billion to $1.365 billion, essentially flat year-on-year and Torrid’s 2022 annual Adjusted EBITDA guidance is revised downwards to a range of $160-175 million from a range of $195-220 million, which would be materially worse than Torrid’s Adjusted EBITDA in 2022 Fiscal 2021 of $246 million.

By the end of September 2022, Torrid’s stock price had fallen to a low of just $4.06 per share, over 80% below the IPO price.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Bar Association, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches and corporate wrongdoing. The law firm has filed numerous multimillion-dollar claims for damages related to…