The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased The RealReal, Inc. (NASDAQ: REAL) common stock pursuant and/or traceable to the Company’s registration statement issued in connection with the Company’s June 27, 2019 initial public offering.
According to the RealReal lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company’s employees received little training on how to spot fake items; (2) the Company’s strict quotas on its employees exacerbated product authentication issues; (3) consequently, the potential for counterfeit or mislabeled items to make it through Company’s authentication process was higher than disclosed; and (4) as a result, Defendants’ statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you suffered a loss in RealReal you have until January 24, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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