Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Central District of California on behalf of shareholders of Olaplex Holdings, Inc. (NasdaqGS: OLPX), if they purchased or acquired the Company’s shares pursuant and/or traceable to the Company’s September 2021 initial public offering (the “IPO”).
Olaplex and certain of its executives and others are charged with failing to disclose material information in its IPO Registration Statement and Prospectus (collectively, the “Offering Documents”), violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) macroeconomic pressures and competition in the haircare market were more robust than the Company had represented to investors; (ii) accordingly, the Company was unlikely to maintain its sales and revenue momentum; (iii) 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 (iv) as a result of the foregoing, the Company’s Offering Documents were materially false and misleading at all relevant times.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until January 17, 2023 to request that the court appoint them lead plaintiff.