NEW YORK, March 5, 2018 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Ulta Beauty, Inc. ("Ulta" or the "Company") (NASDAQ: ULTA) and certain of its officers, on behalf of shareholders who purchased Ulta securities during the period between March 30, 2016, and February 23, 2018, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: http://www.bgandg.com/ulta.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, defendants made materially false and misleading statements and/or failed to disclose that: (1) the Company was engaged in the widespread practice of repackaging returned cosmetics and re-shelving them alongside unblemished products to sell at full retail price; and (2) that as a result of the foregoing, Ulta's public statements were materially false and misleading at all relevant times.
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 publication of the CBS News article, Ulta's share price dropped $8.18 per share or 3.94%, to close at $198.93 on February 26, 2018.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: http://www.bgandg.com/ulta or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Ulta you have until May 1, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | email@example.com
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