Stitch Fix Inc.‘s $32 million settlement earned a federal judge’s initial approval to resolve allegations the online clothing company and top executives concealed an online-buying option was cannibalizing its core subscription product.
Judge P. Casey Pitts gave his preliminary blessing Monday to the deal and a settlement class of those who acquired Stitch Fix stock from June 9, 2020, to June 9, 2022. The agreement would end almost four years of litigation in the US District Court for the Northern District of California over whether founder and executive chairperson Katrina Lake and former CEO Elizabeth Spaulding knew of internal ...
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