According to the lawsuit, the IPO’s registration statement featured false and/or misleading statements and/or failed to disclose that:
- prior to the IPO, the Company’s results had been significantly impacted by a multimillion-dollar COVID-19 stock-up for products in the Diapers and Wipes category and Household and Wellness category;
- at the time of the IPO, the Company was experiencing decelerating demand for such products;
- as a result, the Company’s financial results would likely be adversely impacted; and
- as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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