Jury Fully Rejects SPI’s Meritless Lawsuit Against FIGS

Rhea-AI Summary

FIGS, Inc. has achieved a significant legal victory as a jury in the United States District Court for the Central District of California ruled in its favor, rejecting all claims from Strategic Partners, Inc. (SPI). This outcome concludes a four-year litigation battle initiated by SPI aimed at hindering FIGS' market growth. Chief Legal Officer Todd Maron emphasized the verdict as a triumph for fair competition, highlighting SPI’s history of similar lawsuits against competitors.

Positive

• Jury ruled in favor of FIGS, rejecting all claims by SPI, ending a four-year legal battle.
• Outcome signifies a win for fair competition in the healthcare apparel market.

Negative

• None.

Decision follows four years of harassment through litigation by SPI

LOS ANGELES--(BUSINESS WIRE)-- FIGS, Inc. (NYSE: FIGS), the direct-to-consumer healthcare apparel and lifestyle brand, today announced a jury in the United States District Court for the Central District of California has found in favor of FIGS and rejected all of the claims made by Strategic Partners, Inc. (“SPI,” also known as Careismatic Brands).

The decision by the jury follows four years of litigation pursued by SPI, one of the largest legacy players in the medical apparel market, in an attempt to stifle FIGS’ growth.

“This verdict is a powerful win, not only for FIGS, but for fair competition,” said Todd Maron, Chief Legal Officer at FIGS. “This marks the end of a nasty, four-year campaign against FIGS, engineered by SPI’s former CEO Mike Singer and based on outright falsehoods. SPI has 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 want to thank the jury and the Hon. John W. Holcomb for their careful attention to this case, ensuring a fair outcome.”

For more information about the meritless litigation brought by SPI, visit https://www.facts-and-figs.com/.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221104005216/en/

Media:

Todd Maron

press@wearfigs.com

Source: FIGS, INC.

FAQ

What was the recent court ruling involving FIGS?

A jury ruled in favor of FIGS, rejecting all claims from Strategic Partners, Inc. (SPI), ending a four-year litigation.

Who was involved in the litigation against FIGS?

Strategic Partners, Inc. (SPI), a major player in medical apparel, was involved in the litigation against FIGS.

What does the jury's decision mean for FIGS?

The jury's decision is a significant victory for FIGS, allowing them to continue their growth in the healthcare apparel sector.

How long did the litigation against FIGS last?

The litigation against FIGS lasted for four years.

What is the focus of FIGS as a company?

FIGS focuses on creating advanced healthcare apparel and celebrating the work of healthcare professionals.