NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Northern District of Illinois on behalf of all persons or entities who purchased or otherwise acquired Ulta Beauty, Inc. (NASDAQ:ULTA) securities between March 30, 2016 and February 23, 2018 (the “Class Period”). Investors have until May 1, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On February 9, 2018, post-market, it was reported that a consumer class action lawsuit had been filed against Ulta, alleging that the Company had engaged in the "widespread and surreptitious" practice of repacking returned cosmetics and re-shelving them alongside unblemished products to sell at full price. Following this news, Ulta's share price fell $9.07 per share, or over 4%, to close at $209.48 per share on February 12, 2018.
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, first 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 this article, Ulta's share price fell $8.18 per share, or 3.9%, to close at $198.93 per share on February 26, 2018.
The Complaint alleges that Defendants made 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’s public statements were materially false and misleading at all relevant times
If you purchased or otherwise acquired Ulta securities and suffered a loss, continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Ulta Beauty, Inc. lawsuit, please go to http://www.bespc.com/ultabeauty. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.