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
elechtzin@edelson-law.com.
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: medelson@edelson-law.com
Email: elechtzin@edelson-law.com
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.
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SOURCE Edelson Lechtzin LLP
