Apr 4, 2025, 12:37 AM
Apr 4, 2025, 12:37 AM
Securities class action lawsuit filed against e.l.f. Beauty, Inc
- A class action lawsuit has been filed against e.l.f. Beauty, Inc. by Kessler Topaz Meltzer & Check, LLP.
- The complaint alleges that e.l.f. made materially false statements about its financial health, including inflation of revenue and profits.
- Affected investors need to decide whether to become lead plaintiffs or remain passive class members by the deadline of May 5, 2025.
In the United States, Kessler Topaz Meltzer & Check, LLP announced on April 3, 2025, that a class action lawsuit had been initiated against e.l.f. Beauty, Inc. The action relates to investors who acquired e.l.f. securities from November 1, 2023, to November 19, 2024. Allegations included that the company made materially false statements and failed to disclose crucial information regarding its business performance. In particular, the firm affirmed that e.l.f. was experiencing rising inventory levels due to declining sales, falsely attributing this to sourcing changes while inflating revenue and profits over several quarters. The lead plaintiff deadline for the case is set for May 5, 2025.
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