NEW ORLEANS–(BUSINESS WIRE)–ClaimsFiler, a FREE shareholder information service, reminds investors that they have only until November 3, 2020 to file lead plaintiff applications in a securities class action lawsuit against Coty, Inc. (NYSE: COTY), if they purchased the Company’s shares between October 3, 2016 and May 28, 2020, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
Coty investors should visit us at https://www.claimsfiler.com/cases/view-coty-inc-securities-litigation-2 or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Coty and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company did not have adequate processes and procedures in place to assess and properly value the acquisitions of P&G Specialty Beauty Business and Kylie Cosmetics (ii) as a result, the Company had overpaid for the P&G Specialty Beauty Business and Kylie Cosmetics; (iii) the Company did not have adequate infrastructure to smoothly integrate and support the beauty brands that it acquired from P&G, including an adequate supply chain; (iv) as a result of its inadequate infrastructure, Coty was not successfully integrating the beauty brands it acquired from P&G and not delivering synergies from the acquisition; and (v) as a result of the foregoing, Coty’s financial statements were materially false and misleading at all relevant times.
The case is Crystal Garrett-Evans, et al. v. Coty Inc., et al., 20-cv-07277.
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