Law Offices of Howard G. Smith Announces Investigation on Behalf of Investors of Coty Inc.
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of investors of Coty Inc. (“Coty” or the “Company”) (NYSE:COTY) concerning possible violations of federal securities laws. The investigation focuses on certain statements issued by the Company concerning Coty’s business and financial prospects.
Coty, together with its subsidiaries, manufactures, markets and distributes women’s and men’s fragrances, color cosmetics, and skin and body-care related products worldwide. The investigation is related to allegations that the Company’s registration statement filed with the Securities and Exchange Commission on May 28, 2013, and the prospectus filed June 13, 2013, in connection with the Company's initial public offering were materially misleading or failed to disclose that:
- Consumption of Coty products was materially declining, and U.S. and European customers were “destocking,” or returning products to Coty, rather than selling those products to consumers, resulting in inventory reductions in the U.S. mass markets across most of Coty's top customers and across all product segments.
- Sale growth of the Company’s nail products had materially declined.
- As a result of destocking and a decline in customers’ consumption, mass retailers were reducing inventory of Coty products.
If you purchased Coty common stock, if you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.