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Investigation announced for Investors in Torrid Holdings Inc. (NYSE: CURV) over potential Wrongdoing

05-27-2022 04:28 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors in Torrid Holdings Inc. (NYSE: CURV) shares over potential wrongdoing.

An investigation on behalf of investors in Torrid Holdings Inc. (NYSE: CURV) shares over potential wrongdoing.

An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Torrid Holdings Inc.

Investors who purchased shares of Torrid Holdings Inc. (NYSE: CURV) and currently hold any of those Torrid Holdings Inc. (NYSE: CURV shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Torrid Holdings Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.

City of Industry, CA based Torrid Holdings Inc. operates in women's plus-size apparel and intimates market in North America. Torrid Holdings Inc. reported that its Total Revenue rose from $973.51 million for the 12 months period that ended on January 31, 2021, to over $1.27 billion for the 12 months period that ended on January 31, 2022, and that its Net Income of $24.53 million for the 12 months period that ended on January 31, 2021, turned into a Net Loss of $29.94 million for the 12 months period that ended on January 31, 2022.

On December 8, 2021, Torrid Holdings Inc. announced its financial results for the quarter ended October 30, 2021. Torrid Holdings Inc. also announced the retirement of its Chief Financial Offer, George Wehlitz, and that the "Board of Directors initiated a share repurchase authorization under which the Company may purchase up to $100 million of its outstanding common stock." Following this news, Torrid shares plummeted.

Shares of Torrid Holdings Inc. (NYSE: CURV) declined from $20.95 per share on November 9, 2021, to as low as $5.77 per share on April 1, 2022.

Those who purchased shares of Torrid Holdings Inc. (NYSE: CURV) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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