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Rent the Runway, Inc: Please contact the Portnoy Law Firm to recover your losses; January 13, 2023 deadline

PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
January 12, 2023 GMT

Investors cancontactthe law firm at no cost to learn more about recovering their losses

LOS ANGELES, Jan. 12, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Twist Bioscience Corporation (“RTR”) (NASDAQ: RENT) investors that a lawsuit filed on behalf of investors that purchased Rent the Runway, Inc. (“RTR” or the “Company”) (NASDAQ: RENT) Class A common stock pursuant and/or traceable to the Company’s October 2021 initial public offering (“IPO”).

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email:, to discuss their legal rights, or click here to join the case via The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

RTR conducted its IPO in October 2021, selling 17 million shares of Class A common stock at $21 per share. However, on December 8, 2021, RTR announced its Q3 2021 financial results, disclosing a net loss of $87.8 million and an increase in fulfillment and marketing expenses. Additionally, the company disclosed a deceleration in active subscriber growth. Then in April 2022, RTR reported a decline in active subscribers during Q4 2021, with elevated fulfillment and marketing expenses. On September 12, 2022, RTR announced it only had 124,131 active subscribers and announced a restructuring plan, including a 24% workforce reduction. Following this news, RTR’s stock price fell 38.7% to $3.02 per share on September 13, 2022, causing harm to investors. By October 2022, the price of RTR Class A common stock had fallen to less than $2.00 per share, 90% below the IPO price.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar

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