STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of Illinois on behalf of purchasers of Ulta Beauty, Inc. (Nasdaq: ULTA) (“Ulta” or the “Company”) securities during the period between March 30, 2016, and February 23, 2018, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until May 1, 2018 to seek appointment as lead plaintiff.
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 Ulta securities during the Class Period. 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.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period 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.
According to the complaint, following February 9, 2018 reports that a consumer class action lawsuit had been filed against Ulta alleging that the Company engaged in the widespread repacking of returned cosmetics and re-shelving them, and a February 23, 2018 report by CBS news of statements that Ulta store managers frequently pressured the Company’s employees to clean and resell used products, the value of Ulta shares declined significantly.
If you have suffered a loss in excess of $100,000 from investment in Ulta securities purchased on or after March 30, 2016 and held through the revelation of negative information during and/or at the end of the Class Period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please contact Brower Piven either by email at email@example.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.