How Much Did Figs Spend Fighting a Lawsuit?

Heather Hasson says Figs spent $40 million fighting a lawsuit she puts at $800 million, and that the money was worth spending because she and Trina Spear expected to win.

Guy Raz says the case closed in early 2022 after a three-year fight, and the jury ruled for the two founders. Lawyers sometimes pushed to settle. A deal for $2 million, with nothing admitted, is one they probably would have taken, and that offer was not on the table. The board, already seated because Figs was public, refused to let the case sit and chose a trial. Hasson says the claim was ridiculous, and that they won because Figs was innovative, put out a strong product, and ran a strong business. The cash was only part of the cost. Her time, Spear's time, the company's time, and the board's time went into discovery and depositions.

Spear says she did not wall the case off, especially at trial. Court ran all day, and they stayed in a hotel in Santa Ana. Their lawyers told them not to look angry. They stayed angry, and she thinks the jury saw that the fight had taken their time and felt absurd. After the win they met the jurors, who were crying and saying they were sorry the founders had gone through it.