e.l.f. Beauty, Inc. (NYSE: ELF)

Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into e.l.f. Beauty, Inc. (“ELF” or the “Company”) (NYSE: ELF).

On November 20, 2024, Muddy Waters Research reported a myriad of allegations against the Company, including that: (i) it had materially overstated revenue over the past three quarters; (ii) in Q2 FY24, it realized its growth narrative was in trouble as its inventory built; (iii) it then began reporting inflated revenue and profits resulting in its reported inventory also appearing materially inflated; and (iv) the Company concealed its inventory challenges from investors by falsely attributing its rising inventory levels to changes in its sourcing practices rather than the true cause of insufficient sales. Then, on February 6, 2025, the Company released its fiscal Q3 2025 results and provided fiscal 2025 outlook that confirmed the weaknesses identified in the report, including softer consumption trends and slower new product launches.

KSF’s investigation is focusing on whether e.l.f. Beauty’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.

If you have information that would assist KSF in its investigation, or have been a long-term holder of e.l.f. Beauty shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or fill out the form on this page.