SHAREHOLDER DEADLINE NOTICE: Scott+Scott Attorneys at Law LLP Reminds Investors That a Securities Class Action Has Been Filed Against Torrid Holdings Inc. (CURV)

New York, New York--(Newsfile Corp. - January 11, 2023) - Scott+Scott Attorneys at Law LLP ("Scott+Scott"), an international shareholder and consumer rights litigation firm, is reminding investors that the deadline to move for lead plaintiff in a securities class action lawsuit against Torrid Holdings Inc. (NYSE: CURV) ("Torrid" or the "Company") and certain other defendants is January 17, 2023. The action, which was filed in the U.S. District Court for the Central District of California, asserts claims under §§11 and 15 of the Securities Act of 1933 (the "Securities Act"), on behalf of a Class consisting of all persons who purchased Torrid common stock in or traceable to the Company's July 2021 initial public offering ("IPO"). If you purchased Torrid common stock in or traceable to the IPO, you are encouraged to contact Scott+Scott attorney Jonathan Zimmerman at (888) 398-9312, or jzimmerman@scott-scott.com, for more information.

CLICK HERE TO RECEIVE ADDITIONAL INFORMATION ABOUT THIS CLASS ACTION

Torrid is a direct-to-consumer brand of women's plus-size apparel and intimates. In July 2021, the Company conducted its IPO, selling 12.65 million shares to the investing public at $21 per share, generating over $265 million in gross offering proceeds.

According to the complaint, the offering documents used to effectuate Torrid's IPO created a misleading impression about Torrid's impressive growth leading up to the IPO, as well as its business and future prospects. Specifically, unbeknownst to investors, in the first half of 2021, Torrid experienced a temporary surge in demand as a result of changed consumer behaviors in response to the COVID-19 pandemic and government stimulus, but this short-lived demand trend had dissipated and was not internally projected following the IPO. Further, Torrid was suffering from severe supply chain disruptions, running materially below historical inventory levels, and failing to effectively match consumer buying trends, which created an undisclosed risk of increased markdowns and promotional activities.

As the market began to learn the truth, the price of Torrid's shares precipitously declined. In fact, by the end of September 2022, Torrid's stock fell to a low of $4.06 per share, or over 80% below the $21 IPO offering price.

Lead Plaintiff Deadline

The Lead Plaintiff deadline in this action is January 17, 2023. Any member of the proposed Class may seek to serve as Lead Plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed Class.

What You Can Do

If you purchased Torrid common stock during the Class Period, or if you have questions about this notice or your legal rights, you are encouraged to contact attorney Jonathan Zimmerman at (888) 398-9312, or jzimmerman@scott-scott.com.

About Scott+Scott Attorneys at Law LLP

Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, Virginia, California, and Ohio.

Attorney Advertising

CONTACT:
Scott+Scott Attorneys at Law LLP
Jonathan Zimmerman
230 Park Avenue, 17th Floor, New York, NY 10169-1820
(888) 398-9312
jzimmerman@scott-scott.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/151022