LOS ANGELES, CA / ACCESSWIRE / November 20, 2022 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Olaplex Holdings, Inc. ("Olaplex" or "the Company") (NASDAQ:OLPX) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Olaplex lowered its financial guidance for fiscal year 2022 on October 18, 2022. The Company blamed the negative change in outlook on "a slowdown in sales momentum that it attributes to macro-economic pressures, increased competitive activity including discounting, and a moderation in new customer acquisition." The Company also announced that its COO would be stepping down. Based on this news, shares of Olaplex fell by 56.7% on October 19, 2022.
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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.
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SOURCE: The Schall Law Firm