LOS ANGELES, CA / ACCESSWIRE / September 21, 2021 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against The Honest Company, Inc. ("Honest" or "the Company") (NASDAQ:HNST) for violations of the federal securities laws.
Investors who purchased the Company's shares pursuant and/or traceable to the Company's initial public offering conducted in May 2021 (the "IPO"), are encouraged to contact the firm before November 15, 2021.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Honest's sales surged prior to the IPO based on high customer demand during the COVID-19 stock-up period. At the time of the IPO, demand for the Company's products was decelerating considerably. Based on this consumer behavior, the Company's sales were not likely to be maintained at the pre-IPO levels. Based on these facts, the Company's public statements were false and materially misleading throughout the IPO period. When the market learned the truth about Honest, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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SOURCE: The Schall Law Firm