ELF INVESTOR ALERT: Kirby McInerney LLP Notifies e.l.f. Beauty, Inc. Investors of Upcoming Lead ...
NEW YORK, April 03, 2025 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds investors of the May 5, 2025, deadline to seek the role of lead plaintiff in a federal securities class action filed on behalf of investors who acquired e.l.f. Beauty, Inc. (“ELF” or the “Company”) (NYSE:ELF) securities during the period from November 1, 2023, through November 19, 2024 (“the Class Period”).
[LEARN MORE ABOUT THE CLASS ACTION]
On November 20, 2024, Muddy Waters Research published a report titled e.l.f Beauty, Inc. A Revenue and Inventory Mystery, alleging that ELF had materially overstated revenue over the past three quarters. The report claimed that in Q2 FY24, when ELF management realized its growth narrative was in trouble as its inventory built, ELF began reporting inflated revenue and profits. Furthermore, the report accused the Company of concealing 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 shares declined by $2.71 per share, from $121.71 per share on November 19, 2024, to close at $119.00 on November 20, 2024.
The complaint alleges that defendants, throughout the Class Period, failed to disclose that: (1) contrary to its representations to investors, the Company was experiencing rising inventory levels as a consequence of flagging sales; (2) ELF falsely attributed the rising inventory levels to, among other things, changes in its sourcing practices; and (3) to maintain investor confidence, ELF reported inflated revenue, profits, and inventory over several quarters.
If you purchased or otherwise acquired ELF securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the form below, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.
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Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com
