Kaskela Law is investigating e.l.f. Beauty, Inc. (NYSE: ELF) (“ELF”) on behalf of the company’s long-term shareholders.
Recently a securities fraud complaint was filed against ELF on behalf of investors who purchased shares of the company’s stock between February 7, 2024 and February 6, 2025 (the “Class Period”). According to the complaint, during the Class Period ELF and certain of the company’s senior executive officers made a series of materially false and/or misleading statements to investors about the demand for ELF’s products.
The complaint further details how, on August 8, 2024, the Company disclosed weaker-than-expected guidance, and “investors began to be concerned about ELF’s sales growth,” causing shares of the company’s common stock to fall $27.12 per share, or over 14% in value, to close at $160.83 per share on August 9, 2024.
Then, on February 6, 2025, “after more than 17 quarters of double-digit year-over-year sales growth, Defendants were forced to reveal that ELF was not growing like they had falsely told investors and lowered net sales growth in their Q4 FY 2025 to between -1% and 2%, the worst sales growth quarter in six years.” Following this additional news, shares of ELF’s common stock fell an additional $17.36 per share, or nearly 20% in value, to close at $71.13 on February 7, 2025.
The investigation seeks to determine whether ELF and/or the company’s officers and directors violated the securities laws or breached their fiduciary duties in connection with the alleged misconduct.
ELF shareholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) for additional information about this investigation and their legal rights and options at (484) 229 – 0750, by email at [email protected], or by completing the form on this page.