SAN FRANCISCO, Nov. 18, 2022 (GLOBE NEWSWIRE) — Hagens Berman urges Olaplex Holdings, Inc. (NASDAQ: OLPX) traders who suffered vital losses to submit your losses now.

Outlined Class: Purchasers in Olaplex Holdings’ Sept. 30, 2021 IPO
Lead Plaintiff Deadline: Jan. 17, 2023
Go to: www.hbsslaw.com/investor-fraud/OLPX
Contact An Lawyer Now: [email protected]

Olaplex Holdings, Inc. (NASDAQ: OLPX) Securities Class Motion:

The category motion has been filed on behalf of traders who bought Olaplex shares in or traceable to the corporate’s Sept. 30, 2021 preliminary public providing (“IPO”).

Particularly, Olaplex’s IPO paperwork touted its aggressive benefits and a number of other vital tailwinds.

In response to the grievance, Olaplex’s IPO paperwork misrepresented and did not disclose that: (1) macro-economic pressures and competitors within the haircare market have been extra strong than the corporate represented; (2) accordingly, the corporate was unlikely to keep up its gross sales and income momentum; and, (3) consequently, it was unlikely that the corporate would have the ability to obtain the monetary and operational progress projected in its providing paperwork.

Traders started to study the reality on Sept. 29, 2022, when Piper Sandler printed a unfavorable report on Olaplex during which the analyst stated, “competitors and misinformation are rising dangers to the corporate” and that she anticipated investments in advertising and schooling have been wanted to offset the headwinds.

Then, on Oct. 18, 2022, Olaplex introduced that it slashed its income steerage for FY 2022. The corporate blamed “a slowdown in gross sales momentum that it attribute[d] to macro-economic pressures, elevated aggressive exercise together with discounting, and a moderation in new buyer acquisition, in addition to stock rebalancing throughout sure clients[.]”

This information despatched the worth of Olaplex shares crashing over 56% decrease on Oct. 19, 2022, closing at $4.24 or almost 80% under the IPO worth.

“We’re targeted on traders’ losses and proving Olaplex’s IPO paperwork misled traders about its progress prospects,” stated Reed Kathrein, the Hagens Berman accomplice main the investigation.

If you happen to invested in Olaplex and have vital losses, or have data which will help the agency’s investigation, click on right here to debate your authorized rights with Hagens Berman.

Whistleblowers: Individuals with personal info concerning Olaplex ought to take into account their choices to assist in the investigation or make the most of the SEC Whistleblower program. Underneath the brand new program, whistleblowers who present authentic info could obtain rewards totaling as much as 30 % of any profitable restoration made by the SEC. For extra info, name Reed Kathrein at 844-916-0895 or e-mail [email protected]

About Hagens Berman
Hagens Berman is a worldwide plaintiffs’ rights advanced litigation regulation agency specializing in company accountability via class-action regulation. The agency is dwelling to a sturdy securities litigation apply and represents traders in addition to whistleblowers, staff, customers and others in circumstances attaining actual outcomes for these harmed by company negligence and fraud. Extra concerning the agency and its successes may be discovered at hbsslaw.com. Observe the agency for updates and information at @ClassActionLaw. 

Reed Kathrein, 844-916-0895

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