Kindercare Learning Companies, Inc.(US:KLC) Prnewswireยท2025-10-13 09:00Core Viewpoint - The KinderCare Learning Companies, Inc. is facing a class action lawsuit related to its October 2024 IPO, alleging violations of the Securities Act of 1933 due to misleading information regarding child care quality and incidents of abuse at its facilities [1][4]. Group 1: IPO Details - KinderCare sold over 27 million shares at $24 per share during its IPO, raising a total of $648 million in gross proceeds [3]. - Following the IPO, KinderCare's stock price has significantly declined to lows near $9 per share [5]. Group 2: Allegations in the Lawsuit - The lawsuit claims that the registration statement for the IPO was false and misleading, failing to disclose numerous incidents of child abuse and neglect at KinderCare facilities [4]. - It is alleged that KinderCare did not provide the "highest quality care possible" and failed to meet basic standards in the child care industry, exposing the company to undisclosed risks of lawsuits and reputational damage [4]. Group 3: Legal Process - Investors who purchased KinderCare common stock in or traceable to the IPO have until October 14, 2025, to seek appointment as lead plaintiff in the class action lawsuit [1][6]. - The lead plaintiff will represent the interests of all class members and can select a law firm of their choice for litigation [6]. Group 4: Law Firm Background - Robbins Geller Rudman & Dowd LLP is a leading law firm specializing in securities fraud and shareholder litigation, having recovered over $2.5 billion for investors in 2024 alone [7]. - The firm has a strong track record in securing monetary relief for investors, being ranked 1 in the ISS Securities Class Action Services rankings for four out of the last five years [7].