NEW YORK, Dec. 28, 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 Unisys Corporation, Rent the Runway, Inc., and Vintage Wine Estates, 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.
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; and (2) 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, throughout the Class Period, Defendants made false and/or misleading statements 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.
Vintage Wine Estates, Inc. (“Vintage”) (NASDAQ: VWE)
Class Period: October 13, 2021 to September 13, 2022
Pending Court: U.S. District Court for the District of Nevada
Lead Plaintiff Deadline: January 13, 2023
The lawsuit alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) due to a material weakness related to its inventory controls and procedures, Vintage lacked a reasonable basis to report inventory metrics; and (2) Vintage understated its overhead burden in certain quarters, thereby overstating its adjusted EBITDA.
For additional information on the Vintage 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
