LOS ANGELES, Nov. 22, 2024 /PRNewswire/ — The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of e.l.f. Beauty, Inc. (“e.l.f. Beauty” or “the Company”) (NYSE: ELF) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Muddy Waters Research published a report about e.l.f. Beauty, Inc. on November 20, 2024. According to the report, the Company “materially overstated revenue over the past three quarters,” and that in “Q2 FY24, ELF management realized its growth narrative was in trouble as its inventory built. It appears that ELF then began reporting inflated revenue and profits. Its reported inventory also appears materially inflated as a result – i.e., to account for cash that has not really come in.” Based on this news, shares of e.l.f. Beauty fell sharply on the same day.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at [email protected].
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
[email protected]
www.schallfirm.com
SOURCE The Schall Law Firm
