PHILADELPHIA, Dec. 18, 2007 (PRIME NEWSWIRE) -- Law Offices Bernard M. Gross, P.C. has commenced a class action lawsuit in the United States District Court, Northern District of Illinois, Civil Action No. 07 C 7083, on behalf of purchasers of the common stock of Ulta Salon, Cosmetics & Fragrances, Inc. ("ULTA") (Nasdaq:ULTA) between October 25, 2007 and December 10, 2007, inclusive (the "Class Period"), seeking to pursue remedies under the Securities Act of 1933. The action is pending before the Honorable Judge Gettleman.
If you wish to serve as lead plaintiff, you must move the Court no later than January 22, 2008. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Deborah R. Gross or Susan R. Gross at 866-561-3600 or 215-561-3600 or via email at debbie@bernardmgross.com or susang@bernardmgross.com. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint charges ULTA and three of its officers with violations of the Federal Securities Laws. ULTA operates retail stores that sell cosmetics and related items. ULTA went public on October 25, 2007 ("IPO"), just nine days prior to the close of its fiscal third quarter on November 3, 2007 ("Third Quarter"). As alleged in the complaint, defendants issued materially false and misleading statements in connection with the IPO concerning ULTA's financial condition and the levels of its selling, general and administrative expenses inventories. On December 11, 2007, ULTA issued a press release disclosing the results of its Third Quarter, admitting that its inventories and SG&A expenses had risen dramatically in the Third Quarter. As a result of this startling disclosure, the price of ULTA common stock, which had been inflated by defendants' misrepresentations, declined in value.
Plaintiff seeks to recover damages on behalf of all those who purchased the common stock of ULTA (Nasdaq:ULTA) between October 25, 2007 and December 10, 2007. Plaintiff is represented by Law Offices Bernard M. Gross P.C. The firm has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.
If you wish to discuss this action or have any questions concerning this Notice or rights or interests with respect to these matters,
Please Contact: Law Offices Bernard M. Gross, P.C.
Susan R. Gross, Esq.
Deborah R. Gross, Esq.
Telephone: 866-561-3600 (toll free) or 215-561-3600
E-mail: susang@bernardmgross.com or
debbie@bernardmgross.com.
Website: http://www.bernardmgross.com