The Schall Law Firm and Roche Cyrulnik Freedman LLP announced today that they have filed a securities class action lawsuit on behalf of plaintiff Crystal Garrett-Evans against Coty Inc. (“Coty” or “the Company”) (NYSE: COTY) and certain of its officers. The class action, filed in the Southern District of New York, captioned Garrett-Evans v. Coty Inc., et. al., and docketed under Case No. 20-cv-07277, is on behalf of a class consisting of investors who purchased or otherwise acquired Coty securities between October 3, 2016 and May 28, 2020, inclusive (the ”Class Period”). Plaintiff seeks to recover compensable damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder.
If you are a shareholder who purchased Coty securities during the Class Period, you have until November 3, 2020 to ask the Court to appoint you as Lead Plaintiff for the class. If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
Throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose material adverse facts about Coty’s business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose: (1) that despite being no stranger to beauty brand acquisitions, Coty did not have adequate processes and procedures in place to assess and properly value the P&G Specialty Beauty Business and Kylie Cosmetics acquisitions; (2) that as a result, Coty had overpaid for the P&G Specialty Beauty Business and Kylie Cosmetics; (3) that Coty did not have adequate infrastructure to smoothly integrate and support the beauty brands that it acquired from P&G, including an adequate supply chain; (4) that, as a result of its inadequate infrastructure, Coty was not successfully integrating the beauty brands it acquired from P&G and not delivering synergies from the acquisition; (5) and that, as a result of the foregoing, Coty’s financial statements and Defendants’ statements about Coty’s business, operations, and prospects, were materially false and/or misleading at all relevant times.
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The Schall Law Firm
Brian Schall, Esq.
Written by BUSINESSWIRE LIVE FEED.
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