NEW YORK, Nov. 07, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of FIGs, Inc. (“FIGS” or the “Company”) (NYSE: FIGs). Those investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, extension 7980.

The investigation concerns whether the FIG 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 May 27, 2021, FIG conducted its initial public offering (“IPO”), selling 26.4 million shares of common stock at a price of $22.00 per share.

on October 18, 2022, Alpha wanted published an article about a pending lawsuit against the FIGs, in which the plaintiff’s attorney stated: “[O]Our evidence will show throughout this study that FIG founders Heather Hasson and Trina Spear advertised that they invented a proprietary chemical to make their scrubs antimicrobial, instantly killing bacteria on contact and repelling liquids — even though they never did this and knew it was wrong. . . . They did so even in the face of internal opposition from experts and consumers. The FIGs will not present any scientific evidence to support their claims or the collapse of their alleged chemical treatment for peels.”

As a result of this news, FIG’s share price fell $0.81 per share, or 10.32%, to close at $7.04 per share on October 19, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, 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….