NEW YORK, Nov. 22, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against e.l.f. Beauty, Inc. (“e.l.f. Beauty” or the “Company”) (NYSE: ELF) on behalf of e.l.f. Beauty stockholders. Our investigation concerns whether e.l.f. Beauty has violated the federal securities laws and/or engaged in other unlawful business practices.
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On November 20, 2024, Muddy Waters Research issued a report in which it announced that it had a short position in e.l.f. Beauty, Inc. Muddy Waters stated that it believed that e.l.f. Beauty had “materially overstated revenue over the past three quarters,” and that it believed that in “Q2 FY24, ELF management realized its growth narrative was in trouble as its inventory built. It appears that ELF then began reporting inflated revenue and profits. Its reported inventory also appears materially inflated as a result – i.e., to account for cash that has not really come in.”
On this news, e.l.f. Beauty, Inc. stock fell as much as 15% in intraday trading on November 20, 2024.
If you purchased or otherwise acquired e.l.f. Beauty shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
