Mar 21, 2023

On March 14, 2023, The Wall Street Journal published an article entitled “Household Retailer Boxed is Negotiating With Lenders for Bankruptcy Sale.”  The article reported that Boxed might file for bankruptcy, as the Company continues to explore a possible sale of its business. The article noted that Boxed is considering this drastic action less than two years after going public through a merger with a special-purpose acquisition company (“SPAC”) and is also trying to establish a new commercial banking relationship after transferring the majority of its cash out of its accounts at Silicon Valley Bank. On this news, Boxed’s stock price fell $0.21 per share, or 48.25%, to close at $0.2199 per share on March 15, 2023. Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com . CONTACT: