Rosen law firm files securities class action lawsuit against the realreal, inc

Rosen law firm announced it has filed a class action lawsuit on behalf of purchasers of the securities of the realreal, inc. pursuant and/or traceable to the registration statement and related prospectus (collectively, the “registration statement”) issued in connection with realreal’s june 2019 initial public stock offering (the “ipo” or the “offering”). the lawsuit seeks to recover damages for realreal investors under the federal securities laws. according to the lawsuit, the registration statement featured false and/or misleading statements and/or failed to disclose that: (1) the company’s employees received little training on how to spot fake items; (2) the company’s strict quotas on its employees exacerbated product authentication issues; (3) consequently, the potential for counterfeit or mislabeled items to make it through company’s authentication process was higher than disclosed; and (4) as a result, defendants’ statements about realreal’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. when the true details entered the market, the lawsuit claims that investors suffered damages.
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