Security Investigation
e.l.f. Beauty, Inc. (NYSE: ELF)
54 Days left to seek lead plaintiff status.
Contact a Lawyer Now
Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 5, 2025 to file lead plaintiff applications in a securities class action lawsuit against e.l.f. Beauty, Inc. (“ELF” or the “Company”) (NYSE: ELF).
ELF and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On November 20, 2024, Muddy Waters Research reported that the Company had materially overstated revenue over the past three quarters; that in Q2 FY24, it realized its growth narrative was in trouble as its inventory built; that it then began reporting inflated revenue and profits resulting in its reported inventory also appearing materially inflated; and that the Company concealed its inventory challenges from investors by falsely attributing its rising inventory levels to supposed changes in its sourcing practices rather than the true cause insufficient sales.
On this news, the price of ELF’s shares fell $2.71 per share, or 2.23%, to close at $119.00 per share on November 20, 2024.
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 previously issued by Muddy Waters, including softer consumption trends and slower new product launches. On this news, Elf’s stock price fell $17.36 per share, or 19.62%, to close at $71.13 per share on February 7, 2025.
If you purchased securities of ELF and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or fill out the form on this page.
The case is Rottman v. e.l.f. Beauty, Inc., et al., No. 25-cv-2316.