NEW YORK, Feb. 27, 2018 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Ulta Beauty, Inc. (“Ulta” or the “Company”)
Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Ulta and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here to join a class action]
On February 9, 2018, post-market, media outlets reported that a consumer class action lawsuit had been filed against Ulta, alleging that the Company engaged in the “widespread and surreptitious” practice of repacking returned cosmetics and re-shelving them alongside unblemished products to sell at full price. On this news, Ulta’s share price fell $9.07, or 4.15%, to close at $209.48 on February 12, 2018, the following trading day. On February 16, 2018, the law firm representing the plaintiff in the foregoing lawsuit issued a press release further publicizing the pendency of the lawsuit. On this news, Ulta’s share price fell $2.87, or 1.41%, over the following two trading days, closing at $201.13 on February 20, 2018. Then, on February 23, 2018, CBS News published a story on its website entitled “Former Ulta Beauty employee says she felt pressured to resell used products,” reporting on statements, initially made on Twitter by at least one former Ulta employee, to the effect that Ulta store managers frequently pressured the Company’s employees to clean and resell used products. Following the publication of the CBS News article, Ulta’s share price fell $8.18, or 3.95%, to close at $198.93 on February 26, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 9980
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SOURCE Pomerantz LLP
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