Sharma v. Rent the Runway, Inc.

On June 8, 2023, Labaton Keller Sucharow was appointed lead counsel in a securities class action against Rent the Runway, Inc. (Rent the Runway or the Company). Rent the Runway is an e-commerce platform that allows users to rent, subscribe to, or buy designer apparel and accessories.  The action alleges that the registration statement issued in connection with the company’s October 2021 IPO was negligently prepared, contained misstatements of material fact, contained material omissions, failed to make adequate disclosures, and misled investors as to the value of the Company and potential for growth.

The case is Sharma v. Rent the Runway, Inc., No. 22-cv-6935 (E.D.N.Y.).  Labaton Keller Sucharow represents lead plaintiffs Delaware Public Employees' Retirement System and Denver Employees Retirement Plan.