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Rent the Runway entered into a Stipulation of Settlement to resolve a putative class action lawsuit filed in November…
RENTRent the Runway, Inc.
Rent the Runway entered into a Stipulation of Settlement to resolve a putative class action lawsuit filed in November 2022 alleging securities law violations related to its IPO. The company agreed to pay total settlement consideration valued at $9,000,000, comprising $6,000,000 in cash and $3,000,000 in Class A common stock. The cash portion is funded by approximately $3,100,000 from the company and $2,900,000 from insurers. The settlement resolves all claims without admission of liability and requires preliminary and final court approval. Rent the Runway operates in the fashion rental industry, providing access to designer apparel and accessories.