Important Investor Alert: e.l.f. Corporation Securities Class Action Lawsuit
New York, NY / New Orleans, LA – Kahn Swick & Foti, LLC (“KSF”) and its 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. Corporation (NYSE: ELF). This follows the filing of a securities class action lawsuit on behalf of all persons who purchased or acquired the securities of e.l.f. Corporation between February 27, 2020 and February 26, 2021, inclusive (the “Class Period”).
Background on the Lawsuit
The complaint alleges that during the Class Period, defendants made materially false and misleading statements regarding the company’s business, operational and financial results. Specifically, the complaint alleges that defendants failed to disclose that:
- The company was experiencing declining sales due to increased competition and decreased demand for its products;
- The company’s financial statements for the fiscal year 2020 contained material misstatements and omissions;
- The company’s internal control over financial reporting was weak and inadequate;
- The company’s senior management had engaged in a scheme to artificially inflate revenue and profits.
Impact on Individual Investors
If you purchased or acquired e.l.f. Corporation securities during the Class Period, you may be eligible to recover your losses, including lost profits, in this action. To be a lead plaintiff, you must meet certain requirements. You do not need to seek appointment as a lead plaintiff to share in any recovery. If you are a class member, you can ask the court for an appointment as a lead plaintiff by filing a motion with the court.
Impact on the World
The e.l.f. Corporation securities class action lawsuit is significant because it highlights the importance of accurate financial reporting and internal controls for publicly traded companies. The lawsuit also underscores the potential consequences of misleading statements and omissions regarding a company’s financial condition and business operations. The outcome of this case could set a precedent for future securities class action lawsuits and potentially influence investor confidence in the stock market.
Conclusion
If you purchased or acquired e.l.f. Corporation securities during the Class Period and believe you may be eligible to recover your losses, KSF encourages you to contact KSF Managing Partner, Charles C. Foti, Jr. directly at [email protected] or call toll-free at 1-877-515-1850. There is no cost or obligation to you.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and complex commercial litigation for clients. The firm has offices in New York, California and Louisiana and serves a diverse range of clients ranging from individuals to Fortune 500 companies.
