An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
SANTA MONICA, Calif.--(BUSINESS WIRE)--
FIGS, Inc. (NYSE: FIGS), the direct-to-consumer healthcare apparel and lifestyle brand, today issued the following statement with respect to the conclusion of SPI’s litigation against FIGS:
Strategic Partners Inc. (“SPI”) and FIGS, Inc. (along with its founders, Trina Spear and Heather Hasson) (together, “FIGS”), have settled all litigation brought by SPI against FIGS. As part of the settlement, all litigation between the parties will end and neither party will make any payments or have any other obligations to the other.
This comes three-and-a-half months after a jury in the United States District Court for the Central District of California found in favor of FIGS and rejected all of the claims made by SPI. Following a three-week trial, the jury unanimously concluded in less than a day that FIGS engaged in no wrongdoing of any kind, and that none of FIGS’ advertising was false, misleading or deceptive. Moreover, the jury called out SPI’s hypocrisy, finding that SPI engaged in the very misconduct that it falsely complained about in the litigation.
“The jury verdict was a powerful win, not only for FIGS, but for fair competition,” said Todd Maron, Chief Legal Officer at FIGS. “SPI engaged in a nasty, four-year campaign against FIGS, engineered by its former CEO Mike Singer and based on outright falsehoods. SPI had sued competitors at least twice before in similar situations, and we felt it was important to stand up for the truth when confronted with a baseless lawsuit. We’re gratified that our decision was vindicated by the jury’s verdict, and that SPI was not allowed to stifle another company’s growth.”
FIGS has been and remains focused on its mission of celebrating, empowering, and serving the extraordinary community of healthcare professionals who care for patients, cure diseases and save lives.
Bird, Marella, Boxer, Wolpert, Nessim, Drooks, Lincenberg & Rhow, P.C. and Munger, Tolles & Olson LLP served as legal counsel to FIGS.
About FIGS
FIGS is a founder-led, direct-to-consumer healthcare apparel and lifestyle brand that seeks to celebrate, empower and serve current and future generations of healthcare professionals. We create technically advanced apparel and products for healthcare professionals that feature an unmatched combination of comfort, durability, function and style. We market and sell our products directly through our digital platform to provide a seamless experience for healthcare professionals.
figs is revolutionizing the antiquated $10 billion medical apparel industry through its use of ridiculously soft and technical fabrics that are tailored to perfection. figs medical apparel is anti-microbial, wrinkle resistant, stain repellent, lint free and utilizes four way stretch. through its customer-centric, vertically integrated e-commerce platform, figs has transformed the way medical professionals shop. through its threads for threads initiative, for every set of scrubs sold, figs gives a set to a healthcare provider in need. the company has raised over $10 million in capital from a great group of tech investors including campfire capital, jh partners, mohr davidow ventures, irving place capital, raptor ventures, karlin ventures, riverwood capital, 500 startups, suffolk equity partners, the milken family, will smith, peter morton, steve tisch, and john fisher.
