LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of FIGS, Inc. (“FIGS” or the “Company”) (NYSE: FIGS) investors concerning the Company’s possible violations of the federal securities laws.

If you suffered a loss on your FIGS investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/figs-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.

In June 2021, FIGS completed its initial public offering (“IPO”), selling approximately 34.3 million shares of Class A common stock for $22 per share.

On May 12, 2022, FIGS announced disappointing financial results, adjusting its expected sales, gross margins, and EBITDA due to supply chain issues. The Company also admitted that it had continued to rely on air freight instead of the less expensive option of overseas shipping, despite previous claims that air freight was transitory.

On this news, FIGS’s stock fell $3.21, or 25%, to close at $9.64 per share on May 13, 2022, significantly below the IPO price, thereby injuring investors.

Whistleblower Notice: Persons with non-public information regarding FIGS should consider their options to aid the...

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