Moore Law Encourages e.l.f. Beauty, Inc. Investors to Contact Law Firm
/EIN News/ -- NEW YORK, April 23, 2025 (GLOBE NEWSWIRE) -- Moore Law, PLLC, a securities and shareholder law firm located in New York City on Wall Street, is investigating potential claims against:
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e.l.f. Beauty, Inc. (NYSE: ELF)
The investigation concerns an investigative report from securities investment research firm Muddy Waters Research.
On November 20, 2024, Muddy Waters Research published a report about e.l.f. Beauty, Inc. According to the report, the Company “materially overstated revenue over the past three quarters,” and that in “Q2 FY24, ELF management realized its growth narrative was in trouble as its inventory built. It appears that ELF 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.” Based on this news, shares of e.l.f. Beauty fell sharply on the same day.
Other concerns include alleged false and/or misleading statements and/or failure to disclose that: (i) contrary to its representations to investors, e.l.f. Beauty was experiencing rising inventory levels as a consequence of flagging sales; (ii) e.l.f. Beauty falsely attributed the rising inventory levels to, among other things, changes in its sourcing practices; (iii) to maintain investor confidence, e.l.f. Beauty reported inflated revenue, profits, and inventory over several quarters; and (iv) accordingly, e.l.f. Beauty’s business and/or financial prospects were overstated.
Yeat to date, e.l.f. Beauty stock price is down approximately 52%.
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