NEW YORK, July 20, 2009 (GLOBE NEWSWIRE) -- The Brualdi Law Firm, P.C. announces that a lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of those who purchased the common stock of Bare Escentuals, Inc. ("Bare Escentuals" or the "Company") (Nasdaq:BARE) between November 7, 2006 and November 26, 2007 (the "Class Period") for violations of the federal securities laws.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Bare Escentuals common stock during the Class Period, and wish to move the court for appointment of lead plaintiff, you must do so by September 15, 2009. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You do not need to seek appointment as a lead plaintiff in order to share in any recovery.
To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Sue Lee at The Brualdi Law Firm, P.C. 29 Broadway, Suite 2400, New York, New York 10006, by telephone toll free at (877) 495-1187 or (212) 952-0602, by email to slee@brualdilawfirm.com or visit our website at http://www.brualdilawfirm.com.
The complaint alleges that defendants failed to disclose material adverse facts about the Company's true financial condition, business and prospects. Specifically, it is alleged that defendants failed to disclose the following adverse facts, among others: (i) that the Company's infomercial business was not performing according to internal expectations and would need to be substantially revamped; (ii) that the Company's new infomercial had led to an immediate decrease in sales and was not performing to internal expectations; and (iii) as a result, the Company's growth rate would be slowing from historical growth rates.