NEW YORK--(BUSINESS WIRE)--The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Ulta Beauty, Inc. (NASDAQ:ULTA) who purchased shares between March 30, 2016 and February 23, 2018. The action, which was filed in the United States District Court for the Northern District of Illinois, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that (i) 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 (ii) that as a result of the foregoing, Ulta Beauty's public statements were materially false and misleading at all relevant times. On February 23, 2018, CBS News published a story on the alleged restocking practice, citing a former employee who alleged that managers pressured store employees to clean and repackage returned cosmetics “to keep the dollar amount for damaged or returned goods down.”
Shareholders have until May 1, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
If you suffered a loss during the class period and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kleinstocklaw.com/pslra-c/ulta-beauty-inc?wire=2.
Joseph Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.