NEW YORK, Sept. 13, 2019 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces it has commenced an investigation of The RealReal, Inc. (“RealReal” or “the Company”) (NASDAQ: REAL) concerning possible violations of federal securities laws.
According to a filed complaint, certain statements related to RealReal's initial public offering ("IPO") were materially false and misleading at the time of the IPO, because, at the time of the IPO, retailers were engaging in earlier-than-usual promotion in the luxury space. In response to these promotions, the Company reduced the price of the products on its website, which caused RealReal's average order value to remain essentially flat year-over-year and quarter-over-quarter.
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Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171