Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into The RealReal, Inc. (NasdaqGS: REAL).
Beginning in September of 2019, news media reports highlighted a range of alleged flaws relating to the Company’s item authentication procedures, including that it largely utilized copywriters, rather than professional authenticators, to authenticate the majority of the Company’s items and that the copyrighters were poorly trained and subject to extremely high processing quotas, resulting in customers unknowingly purchasing counterfeit goods from the Company.
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws, which remains ongoing.
KSF’s investigation is focusing on whether RealReal’s officers and/or directors breached their fiduciary duties to RealReal’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Microchip shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or fill out the form on this page.