공시 • Jun 23
Stitch Fix Securities Class Action Settlement Proposed for $32 Million
Stitch Fix, Inc. announced a securities class action pending in the United States District Court for the Northern District of California, San Jose Division, under Case No. 5:22-cv-04893-PCP. Lead Plaintiffs Retail Wholesale Department Store Union Local 338 Retirement Fund, Retail Wholesale Department Store Union Local 338 Health & Welfare Fund, Retail Wholesale Department Store Union Local 338 General Fund, and Retail Wholesale Department Store Union Local 338 Benefits Trust Fund and Defendants Stitch Fix, Inc., Katrina Lake, and Elizabeth Spaulding have reached a proposed settlement of the Action on behalf of the Settlement Class for $32,000,000 in cash. All persons and entities who purchased or acquired Stitch Fix, Inc. common stock from June 9, 2020 through June 9, 2022, inclusive (Settlement class period), and were damaged thereby (Settlement class). If approved by the Court, the Settlement will resolve all claims in the Action. A hearing will be held on September 24, 2026 at 10:00 a.m., before the Honorable P. Casey Pitts, United States District Court Judge for the Northern District of California, either in person in Courtroom 8, 4th Floor of the Robert F. Peckham Federal Building & United States Courthouse, 280 South First Street, San Jose, CA 95113, or by telephone or videoconference (in the discretion of the Court), to determine, among other things: (i) whether, for purposes of settlement, the Action should be certified as a class action on behalf of the Settlement Class, Lead Plaintiffs should be appointed as Class Representatives for the Settlement Class, and Lead Counsel should be appointed as Class Counsel for the Settlement Class; (ii) whether the Settlement on the terms and conditions provided for in the Stipulation is fair, reasonable, and adequate to the Settlement Class, and should be finally approved by the Court; (iii) whether the Action should be dismissed with prejudice against Defendants and the releases specified and described in the Stipulation (and in the Notice) should be granted; (iv) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (v) whether Lead Counsel's motion for attorneys' fees in an amount not to exceed 25% of the Settlement Fund and payment of expenses in an amount not to exceed $300,000 (which amount may include a request for reimbursement of the reasonable costs and expenses incurred by Lead Plaintiffs directly related to their representation of the Settlement Class) should be approved. Any updates regarding the Settlement Hearing, including any changes to the date or time of the hearing or updates regarding in-person or remote appearances at the hearing, will be posted to the website for the Settlement. If investors are a member of the Settlement Class, investor rights will be affected by the pending Action and the Settlement, and investor may be entitled to share in the Settlement proceeds. This notice provides only a summary of the information contained in the detailed Notice. To be eligible to receive a payment from the Settlement, investor must be a member of the Settlement Class and submit a Claim Form postmarked (if mailed), or online, no later than October 7, 2026, in accordance with the instructions set forth in the Claim Form. If investors are a Settlement Class Member and do not submit a proper Claim Form, investor will not be eligible to share in the Settlement proceeds, but investor will nevertheless be bound by any judgments or orders entered by the Court in the Action. If investors are a member of the Settlement Class and wish to exclude yourself from the Settlement Class, investor must submit a request for exclusion such that it is received no later than August 27, 2026, in accordance with the instructions set forth in the Notice. If investor properly exclude yourself from the Settlement Class, investor will not be bound by any judgments or orders entered by the Court in the Action and investor will not receive any benefits from the Settlement. Any objections to the proposed Settlement, the proposed Plan of Allocation, and/or Lead Counsel's motion for attorneys' fees and expenses, must be submitted to the Court. Objections must be filed or postmarked (if mailed) no later than August 27, 2026, in accordance with the instructions set forth in the Notice. Certain persons and entities are excluded from the Settlement Class by definition, as set forth in the full Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Hearing; and (III) Motion for Attorneys' Fees and Litigation Expenses (the "Notice").