Mon, 06 Feb 2023

NEW YORK, NY / ACCESSWIRE / December 6, 2022 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

OPEN Shareholders Click Here: https://www.zlk.com/pslra-1/opendoor-technologies-loss-submission-form?prid=34329&wire=1
ARGO Shareholders Click Here: https://www.zlk.com/pslra-1/argo-group-loss-submission-form?prid=34329&wire=1
RENT Shareholders Click Here: https://www.zlk.com/pslra-1/rent-the-runway-loss-submission-form?prid=34329&wire=1

* ADDITIONAL INFORMATION BELOW *

Levi & Korsinsky, LLP, Tuesday, December 6, 2022, Press release picture

Opendoor Technologies Incorporated (NASDAQ:OPEN)

This lawsuit is on behalf of a class consisting of all persons and entities other than defendants that purchased or otherwise acquired: (a) Opendoor securities between December 21, 2020 and September 16, 2022, both dates inclusive; (b) Opendoor common stock pursuant and/or traceable to documents issued in connection with the business combination between the Company and Opendoor Labs Inc. completed on or about December 18, 2020; (c) Opendoor common stock pursuant and/or traceable to the documents issued in connection with the Company's secondary public offering that was completed on or about February 9, 2021; and/or (d) Opendoor common stock pursuant and/or traceable to the documents issued in connection with the Company's secondary public offering that was completed on or about September 17, 2021.
Lead Plaintiff Deadline : December 6, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/opendoor-technologies-loss-submission-form?prid=34329&wire=1

According to the filed complaint, (i) the algorithm used by the Company to make offers for homes could not accurately adjust to changing house prices across different market conditions and economic cycles; (ii) as a result, the Company was at an increased risk of sustaining significant and repeated losses due to residential real estate pricing fluctuations; (iii) accordingly, defendants overstated the purported benefits and competitive advantages of the algorithm; (iv) as a result, documents issued in connection with the merger between the Company and Opendoor Labs Inc. and defendants' public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.

Argo Group International Holdings, Ltd. (NYSE:ARGO)

This lawsuit is on behalf of investors that purchased or otherwise acquired Argo common stock between February 13, 2018 and August 9, 2022.
Lead Plaintiff Deadline : December 20, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/argo-group-loss-submission-form?prid=34329&wire=1

According to the filed complaint, (1) Argo's reserves were wholly inadequate and its underwriting standards were not prudent as was represented; (ii) Argo had dramatically changed its underwriting policies on certain U.S. construction contracts as far back as 2018; and (iii) these policies were underwritten outside of the Company's 'core' business including in certain states and for certain exposures that were far riskier than investors understood and that the Company no longer would service moving forward.

Rent the Runway, Inc. (NASDAQ:RENT)

This lawsuit is on behalf of all persons or entities who purchased Rent the Runway Class A common stock in or traceable to the Company's October 2021 initial public offering.
Lead Plaintiff Deadline : January 13, 2023
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/rent-the-runway-loss-submission-form?prid=34329&wire=1

According to the filed complaint, (i) Rent the Runway was continuing to face extraordinary business headwinds, such as transportation headwinds and labor wage rate increases, from the COVID-19 pandemic; (ii) Rent the Runway's active subscriber enrollments had sharply decelerated from the growth trajectory represented in the offering documents and, as a result, Rent the Runway was several months away from approaching its pre-pandemic levels of active subscriptions; (iii) Rent the Runway needed to substantially increase marketing and advertising costs from historical figures in order to attempt to grow its active subscriber network; (iv) Rent the Runway was suffering from ballooning fulfillment and transportation costs; and (v) as a result, Rent the Runway was suffering accelerating operational losses at the time of the initial public offering and was far less likely to achieve profitability in the near term, if ever, than represented.

You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Eduard Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP



View source version on accesswire.com:
https://www.accesswire.com/730464/CLASS-ACTION-UPDATE-for-OPEN-ARGO-and-RENT-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders

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