A lawsuit was filed on behalf of investors in Ulta Beauty Inc (NASDAQ:ULTA) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 03/13/2018 -- An investor, who purchased shares of Ulta Beauty Inc (NASDAQ:ULTA), filed a lawsuit over alleged violations of Federal Securities Laws by Ulta Beauty.
Investors who purchased shares of Ulta Beauty Inc (NASDAQ:ULTA) should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On Friday, February 9, 2018, after the market closed, it was reported that a consumer class action lawsuit had been filed against Ulta Beauty Inc. The suit alleges that Ulta Beauty Inc has surreptitiously been restocking used cosmetics, including makeup and selling them alongside unblemished products at full price.
On February 23, 2018, an article was published on the restocking practice on its website. A former employee stated Ulta Beauty Inc had been deceiving consumers for years by repackaging, restocking and reselling used beauty products including cosmetics at full price. The ex-employee alleged that higher-level managers pressured stores to keep the dollar amount of damaged or returned goods down.
The plaintiff claims that between March 30, 2016, and February 23, 2018, the Defendants made false and/or misleading statements and/or failed to disclose that 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 that as a result of the foregoing, Ulta's public statements were materially false and misleading at all relevant times.
Those who purchased shares of Ulta Beauty Inc (NASDAQ:ULTA) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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