LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Oddity Tech Ltd. (“Oddity” or the “Company”) (NASDAQ: ODD) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On May 21, 2024, NINGI Research published a report alleging, among other things, that Oddity has “misrepresented itself as an ‘online-only’ company” when it actually owns and operates 43 stores and 6 beauty school in Israel, which are “likely a material contributor to [the Company’s] DTC earnings.” Additionally, the report states that the brick-and-mortar operations “[remain] unaudited to date,” despite Israeli law requiring ever company to be audited.
On this news, Oddity’s stock price fell $3.02, or 7.4%, to close at $37.97 per share on May 21, 2024, thereby injuring investors.
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If you purchased Oddity securities, have information or 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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