| COMPANY |
Olaplex Holdings, Inc. |
| COURT |
United States District Court for the Central District of California |
| CASE NUMBER |
22-cv-08395 |
| JUDGE |
Steven V. Wilson |
| CLASS PERIOD |
September 30, 2021 and November 17, 2022 |
| SECURITY TYPE |
Common Stock |
Case Background:
IA class action lawsuit has been filed on behalf of those who purchased or acquired Olaplex Holdings, Inc. (“Olaplex”) (NASDAQ: OLPX) common stock pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Offering Documents”) issued in connection with Olaplex’s September 2021 initial public offering (the “IPO”).
The complaint against Olaplex alleges that the Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and was not prepared in accordance with the rules and regulations governing its preparation. Specifically, the Offering Documents made false and/or misleading statements and/or failed to disclose that: (1) macro-economic pressures and competition in the haircare market were more robust than the company had represented to investors; (2) accordingly, the company was unlikely to maintain its sales and revenue momentum; and (3) as a result, it was unlikely that the company would be able to achieve the financial and operational growth projected in the Offering Documents; and (4) as a result, the Offering Documents were materially false and/or misleading and failed to state information required to be stated therein.
Current Status of Case:
On July 19, 2023, Defendants filed a Motion to Dismiss the action. The Motion to Dismiss has been fully briefed and awaiting the Court’s ruling. This action is ongoing.
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 Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.