| COMPANY |
e.l.f. Beauty, Inc. |
| COURT |
United States District Court for the Northern District of California |
| CASE NUMBER |
4:25-cv-02316 |
| JUDGE |
The Hon. Eumi Kim Lee |
| CLASS PERIOD |
May 25, 2023 through February 6, 2025 |
| SECURITY TYPE |
Securities |
Case Background:
This is a class action lawsuit filed on behalf of those who purchased or otherwise acquired e.l.f. Beauty, Inc. (“Elf”) (NYSE: ELF) securities between May 25, 2023, and February 6, 2025, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material facts about the company’s business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose that: (1) Elf was experiencing rising inventory levels as a consequence of flagging sales; (2) Elf falsely attributed the rising inventory levels to, among other things, changes in its sourcing practices; (3) to maintain investor confidence, Elf reported inflated revenue, profits, and inventory over several quarters; (4) accordingly, Elf’s business and/or financial prospects were overstated; (5) all of the foregoing, once revealed, would likely have a material negative impact on Elf; and (6) as a result, Defendants’ statements about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On July 23, 2025, Lead Plaintiffs filed the First Amended Complaint. 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: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; 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.