Important Investor Deadline Reminder: e.l.f. Corporation Securities Class Action Lawsuit
New York, NY and New Orleans, LA – 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. Corporation (NYSE: ELF). This deadlines follows the filing of a securities class action lawsuit on February 26, 2025 in the United States District Court for the Southern District of New York.
Background on the Lawsuit
The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that:
- Defendants had engaged in a scheme to artificially inflate e.l.f.’s revenue and earnings by, among other things, recognizing revenue from sales that had not yet been shipped and recorded expenses that had not yet been incurred;
- Defendants had failed to maintain effective internal control over financial reporting;
- Defendants had failed to disclose material weaknesses in e.l.f.’s internal control over financial reporting;
- Defendants had failed to disclose that e.l.f.’s financial statements for the fiscal years 2018, 2019, and 2020 contained material misstatements;
- Defendants had failed to disclose the true financial condition of e.l.f. and that e.l.f. was not meeting its revenue and earnings guidance.
Impact on Individual Investors
If you purchased or acquired e.l.f. securities between February 13, 2018 and November 12, 2020, you may be entitled to recover your losses through this class action. To be eligible for recovery, you must have purchased or acquired e.l.f. securities during the specified time period and suffered a quantifiable loss. You may, but need not, seek appointment as a lead plaintiff.
Impact on the World
The securities class action lawsuit against e.l.f. Corporation is significant because it highlights the importance of accurate financial reporting and internal control over financial reporting. Investors rely on companies to provide truthful and accurate information about their financial condition and performance. When companies fail to do so, it can lead to significant losses for investors and undermine confidence in the market as a whole.
Conclusion
If you purchased or acquired e.l.f. securities between February 13, 2018 and November 12, 2020, you have until May 5, 2025 to apply for lead plaintiff status in this securities class action lawsuit. For more information, contact Kahn Swick & Foti, LLC at [email protected] or 1-877-515-1850. The law firm is actively investigating potential claims against the company and encourages investors to contact them to discuss their potential recovery options.
This press release is not a solicitation, an offer or a recommendation to buy, sell or hold any security and shall not be construed as providing investment advice. Past performance is not indicative of future results. The information contained herein is based on publicly available sources and may be incomplete or inaccurate.
