NEW YORK, Dec. 15, 2022 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds investors that securities class action lawsuits have been filed on behalf of investors in securities of Polished.com, Inc., Unisys Corporation, and Rent the Runway, Inc. Investors have until the deadlines below to apply to the Court to be appointed as lead plaintiff in the lawsuits. Additional information about each case can be found at the links provided below.
Polished.com, Inc. (“Polished”) (NYSE: POL)
Class Period: July 27, 2020 to August 25, 2022
Pending Court: U.S. District Court for the Eastern District of New York
Lead Plaintiff Deadline: December 30, 2022
The lawsuit alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Polished would restate certain financials; (2) the internal controls of Polished were inadequate; (3) Polished downplayed and obfuscated its internal controls issues; (4) as a result, Polished would engage in an independent investigation; (5) as a result of the investigation, Polished would, among other things, retain independent counsel and consultants, and delay its quarterly filings in violation of NYSE requirements of listing; (6) following the commencement of the investigation, the CEO and CFO of Polished would leave the company; and (7) as a result, defendants' public statements were materially false and/or misleading at all relevant times.
For additional information on the Polished lawsuit, please visit this website.
Unisys Corporation (“Unisys”) (NYSE: UIS)
Class Period: August 3, 2022 to November 7, 2022
Pending Court: U.S. District Court for the Eastern District of Pennsylvania
Lead Plaintiff Deadline: January 10, 2023
The lawsuit alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Unisys’s 2022 financial guidance was significantly overstated; (2) accordingly, once the truth was revealed, it was likely that Unisys would be required to negatively revise its 2022 financial guidance; and (3) and in addition to the foregoing, material weaknesses existed in Unisys’s internal control over financial reporting.
For additional information on the Unisys lawsuit, please visit this website.
Rent the Runway, Inc. (“Rent the Runway”) (NASDAQ: RENT)
Class Period: October 24, 2021 to November 14, 2022
Pending Court: U.S. District Court for the Eastern District of New York
Lead Plaintiff Deadline: January 13, 2022
The lawsuit alleges that the Registration Statement was false and/or misleading and/or failed to disclose that: (1) Rent the Runway was continuing to face extraordinary business headwinds, such as transportation headwinds and labor wage rate increases, from the COVID-19 pandemic; (2) Rent the Runway’s active subscriber enrollments had sharply decelerated from the growth trajectory represented in the offering documents and, as a result, Rent the Runway was several months away from approaching its pre-pandemic levels of active subscriptions; (3) Rent the Runway needed to substantially increase marketing and advertising costs from historical figures in order to attempt to grow its active subscriber network; (4) Rent the Runway was suffering from ballooning fulfillment and transportation costs; and (5) as a result, Rent the Runway was suffering accelerating operational losses at the time of the IPO and was far less likely to achieve profitability in the near term, if ever, than represented.
For additional information on the Rent the Runway lawsuit, please visit this website.
About Kirby McInerney LLP:
Kirby McInerney is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney’s website: www.kmllp.com.
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Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
investigations@kmllp.com
www.kmllp.com
