COTY CLASS ACTION UPDATE BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors of Lead Plaintiff Deadline in Class Action Lawsuit Against Coty, Inc. - COTY
New Orleans, Louisiana--(Newsfile Corp. - October 15, 2020) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors with losses in excess of $100,000 that they have 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.
What You May Do
If you purchased shares of Coty and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nyse-coty/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by November 3, 2020.
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.
On this news, the price of Coty's shares plummeted.
The case is Crystal Garrett-Evans, et al. v. Coty Inc., et al., 20-cv-07277.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients - including public institutional investors, hedge funds, money managers and retail investors - in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
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