NEWTOWN, Pa., Nov. 25, 2024 /PRNewswire/ — Edelson Lechtzin LLP is investigating potential violations of the federal securities laws involving e.l.f. Beauty, Inc. (“e.l.f. Beauty”) (NYSE: ELF) resulting from allegations of providing potentially misleading business information to the investing public.
If you have non-public information that could assist in the e.l.f. Beauty Investigation or if you are an e.l.f. Beauty investor who suffered a loss and would like to learn more, you can provide your information HERE.
You can also contact attorneys Eric Lechtzin of Edelson Lechtzin LLP by calling 844-563-5550 ext. 1, or via e-mail at [email protected].
THE COMPANY: e.l.f. Beauty, Inc. produces cosmetics and skincare under brands like e.l.f. Cosmetics and Well People. Founded in 2004 and headquartered in Oakland, California, e.l.f. Beauty sells products globally through retailers and e-commerce.
THE ALLEGED WRONGDOING: On November 20, 2024, Muddy Waters Research released a report disclosing its short position in e.l.f. Beauty. The report accused the company of significantly overstating its revenue over the last three quarters. According to Muddy Waters, e.l.f. Beauty allegedly inflated its revenue and profits starting in the second quarter of fiscal year 2024 to conceal declining growth. The report also claimed that the company’s inventory figures were artificially inflated to account for uncollected cash.
THE REVELATION: On this news, e.l.f. Beauty, Inc.’s stock fell 15% in intraday trading on November 20, 2024.
ABOUT EDELSON LECHTZIN LLP: Edelson Lechtzin LLP is a national class action law firm with offices in Pennsylvania and California. In addition to cases involving securities and investment fraud, our lawyers focus on class and collective litigation in cases alleging violations of the federal antitrust laws, employee benefit plans under ERISA, wage theft and unpaid overtime, consumer fraud, and catastrophic injuries.
For more information, please contact:
Marc H. Edelson, Esq.
Eric Lechtzin, Esq.
EDELSON LECHTZIN LLP
411 S. State Street, Suite N-300
Newtown, PA 18940
Phone: 844-696-7492 ext. 1
Email: [email protected]
Email: [email protected]
Web: www.edelson-law.com
This press release may be considered Attorney Advertising in some jurisdictions. No class has been certified in this case, so you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. Your ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
SOURCE Edelson Lechtzin LLP
