BOSTON, March 07, 2025 (GLOBE NEWSWIRE) -- Block & Leviton announces that a securities fraud lawsuit has been filed against e.l.f. Beauty, Inc. (NYSE: ELF) and certain of its executives. Investors who have lost money in their e.l.f. Beauty, Inc. investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://blockleviton.com/cases/elf.
What is this all about?
On November 20, 2024, Muddy Waters Research (Muddy Waters) published a report entitled e.l.f. Beauty, Inc. A Revenue and Inventory Mystery (the Muddy Waters Report), alleging that e.l.f. Beauty had materially overstated revenue over the past three quarters, and that in Q2 FY24, e.l.f. Beauty management realized its growth narrative was in trouble as its inventory built. It appears that e.l.f. Beauty 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. Further, Muddy Waters accused the Company of concealing its inventory challenges from investors by falsely attributing its rising inventory levels to supposed changes in its sourcing practices rather than the true cause insufficient sales.
Who is eligible?
Anyone who purchased e.l.f. Beauty common stock between November 1, 2023, and November 19, 2024, and has seen their shares fall may be eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.
What should you do next?
The deadline to seek appointment as lead plaintiff is May 5, 2025. A class has not yet been certified, and until a certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member. If you've lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at shareholders@blockleviton.com, or by phone at (888) 256-2510.
Whistleblower?
If you have non-public information about e.l.f. Beauty, you should consider assisting in our investigation or working with our attorneys to file a report with the Securities Exchange Commission under their whistleblower program. Whistleblowers who provide original information to the SEC may receive rewards of up to 30% of any successful recovery. For more information, contact Block & Leviton at whistleblowers@blockleviton.com or by phone at (888) 256-2510.
Why should you contact Block & Leviton?
Block & Leviton is widely regarded as one of the leading securities class action firms in the country. Our attorneys have recovered billions of dollars for defrauded investors and are dedicated to obtaining significant recoveries on behalf of our clients through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, call (888) 256-2510 or email shareholders@blockleviton.com with any questions.
This notice may constitute attorney advertising.
CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (888) 256-2510
Email: shareholders@blockleviton.com
