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Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until November 3, 2020 to file lead plaintiff applications in a securities class action lawsuit against Coty, Inc. (NYSE: COTY).
Coty and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company did not have adequate processes and procedures in place to assess and properly value the acquisitions of P&G Specialty Beauty Business and Kylie Cosmetics (ii) as a result, the Company had overpaid for the P&G Specialty Beauty Business and Kylie Cosmetics; (iii) the Company did not have adequate infrastructure to smoothly integrate and support the beauty brands that it acquired from P&G, including an adequate supply chain; (iv) 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; and (v) as a result of the foregoing, Coty’s financial statements were materially false and misleading at all relevant times.
On this news, the price of Coty’s shares plummeted.
If you purchased shares of Coty and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or fill out the form on this page.
The case is Crystal Garrett-Evans, et al. v. Coty Inc., et al., 20-cv-07277.
Click here to read the case complaint.