Press release
Lawsuit filed for Investors in shares of Olaplex Holdings, Inc. (NASDAQ: OLPX) I
An investor, who purchased shares of Olaplex Holdings, Inc. (NASDAQ: OLPX), filed a lawsuit over alleged violations of Federal Securities Laws by Olaplex Holdings, Inc. in connection with Company's initial public offering conducted on or around September 30, 2021 (the "IPO" or "Offering").
Investors who purchased shares of Olaplex Holdings, Inc. (NASDAQ: OLPX) have certain options and for certain investors are short and strict deadlines running. Deadline: January 17, 2023. NASDAQ: OLPX investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Santa Barbara, CA based Olaplex Holdings, Inc. manufactures and sells hair care products. The Company offers hair care shampoos and conditioners for use in treatment, maintenance, and protection of hair. Olaplex purports to participate in the "prestige segment" of the haircare market, which the Company claims is "expected to be the fastest growing segment of the global haircare market from 2020 to 2025."
On August 27, 2021, Olaplex Holdings, Inc. filed a registration statement on Form S-1 with the SEC in connection with the IPO, which, after several amendments, was declared effective by the SEC on September 29, 2021 (the "Registration Statement").
On October 1, 2021, Olaplex Holdings, Inc. filed a prospectus on Form 424B4 with the SEC in connection with the IPO, which incorporated and formed part of the Registration Statement (collectively, the "Offering Documents").
Pursuant to the IPO, Olaplex Holdings, Inc. issued 73,700,000 shares of its common stock to the public at the Offering price of $21.00 per share for approximate proceeds of $1,466,445,750 to the Company, after applicable underwriting discounts and commissions.
Olaplex Holdings, Inc. reported that its annual Total Revenue rose from $282.25 million in 2020 to $598.36 million in 2021, and that its Net Income rose from $39.27 million in 2020 to $220.78 million in 2021.
On September 29, 2022, a Piper Sandler analyst downgraded Olaplex Holdings, Inc. to Neutral from Overweight, stating that her work revealed that "competition and misinformation pose growing risks to the company." In addition, the analyst indicated that she anticipated investments in marketing and education were needed to offset the headwinds and that "little room for valuation upside given the risks at play."
On October October 18, 2022, Olaplex Holdings, Inc. issued a press release in which "the Company revised its guidance for the 2022 fiscal year". Olaplex Holdings, Inc. said it now expects fiscal year 2022 revenue between $704 million and $711 million, significantly down from its prior guidance range of $796 million to $826M. Olaplex Holdings, Inc. stated that "[t]he Company's updated guidance primarily reflects a slowdown in sales momentum that it attributes to macro-economic pressures, increased competitive activity including discounting, and a moderation in new customer acquisition, as well as inventory rebalancing across certain customers which the Company believes are in response to these same macro-economic pressures."
Shares of Olaplex Holdings, Inc. (NASDAQ: OLPX) declined to as low as $3.80 per share on October 24, 2022.
The plaintiff claims that the Offering Documents made false and/or misleading statements and/or failed to disclose that macro-economic pressures and competition in the haircare market were more robust than the Company had represented to investors, that accordingly, the Company was unlikely to maintain its sales and revenue momentum, that as a result, it was unlikely that the Company would be able to achieve the financial and operational growth projected in the Offering Documents, and that as a result, the Offering Documents were materially false and/or misleading and failed to state information required to be stated therein.
Those who purchased shares of Olaplex Holdings, Inc. (NASDAQ: OLPX) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Investors who purchased shares of Olaplex Holdings, Inc. (NASDAQ: OLPX) have certain options and for certain investors are short and strict deadlines running. Deadline: January 17, 2023. NASDAQ: OLPX investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Santa Barbara, CA based Olaplex Holdings, Inc. manufactures and sells hair care products. The Company offers hair care shampoos and conditioners for use in treatment, maintenance, and protection of hair. Olaplex purports to participate in the "prestige segment" of the haircare market, which the Company claims is "expected to be the fastest growing segment of the global haircare market from 2020 to 2025."
On August 27, 2021, Olaplex Holdings, Inc. filed a registration statement on Form S-1 with the SEC in connection with the IPO, which, after several amendments, was declared effective by the SEC on September 29, 2021 (the "Registration Statement").
On October 1, 2021, Olaplex Holdings, Inc. filed a prospectus on Form 424B4 with the SEC in connection with the IPO, which incorporated and formed part of the Registration Statement (collectively, the "Offering Documents").
Pursuant to the IPO, Olaplex Holdings, Inc. issued 73,700,000 shares of its common stock to the public at the Offering price of $21.00 per share for approximate proceeds of $1,466,445,750 to the Company, after applicable underwriting discounts and commissions.
Olaplex Holdings, Inc. reported that its annual Total Revenue rose from $282.25 million in 2020 to $598.36 million in 2021, and that its Net Income rose from $39.27 million in 2020 to $220.78 million in 2021.
On September 29, 2022, a Piper Sandler analyst downgraded Olaplex Holdings, Inc. to Neutral from Overweight, stating that her work revealed that "competition and misinformation pose growing risks to the company." In addition, the analyst indicated that she anticipated investments in marketing and education were needed to offset the headwinds and that "little room for valuation upside given the risks at play."
On October October 18, 2022, Olaplex Holdings, Inc. issued a press release in which "the Company revised its guidance for the 2022 fiscal year". Olaplex Holdings, Inc. said it now expects fiscal year 2022 revenue between $704 million and $711 million, significantly down from its prior guidance range of $796 million to $826M. Olaplex Holdings, Inc. stated that "[t]he Company's updated guidance primarily reflects a slowdown in sales momentum that it attributes to macro-economic pressures, increased competitive activity including discounting, and a moderation in new customer acquisition, as well as inventory rebalancing across certain customers which the Company believes are in response to these same macro-economic pressures."
Shares of Olaplex Holdings, Inc. (NASDAQ: OLPX) declined to as low as $3.80 per share on October 24, 2022.
The plaintiff claims that the Offering Documents made false and/or misleading statements and/or failed to disclose that macro-economic pressures and competition in the haircare market were more robust than the Company had represented to investors, that accordingly, the Company was unlikely to maintain its sales and revenue momentum, that as a result, it was unlikely that the Company would be able to achieve the financial and operational growth projected in the Offering Documents, and that as a result, the Offering Documents were materially false and/or misleading and failed to state information required to be stated therein.
Those who purchased shares of Olaplex Holdings, Inc. (NASDAQ: OLPX) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage
to this press release on woodPRI. woodPRI disclaims liability for any content contained in
this release.
Recommend
/newsMicroencapsulation Market Deep Analysis on Key Players - Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer
Market Study Report Adds Global Microencapsulation Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.
Extensive research is required for choosing the appropriate cor...
/newsGermany Airbag Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Hyundai Mobis Co., Ltd. Key Safety Systems, Inc. Robert Bosch GmbH
Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. Germany Airbag Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms...
/newsSecurities Brokerages And Stock Exchanges Market Outlook 2021: Big Things are Happening
A new intelligence report released by HTF MI with title "Global Securities Brokerages And Stock Exchanges Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Global Securities Brokerages And Stock Exchange...
/newsRenewable Chemicals Market Emerging Trends and Competitive Landscape Forecast to 2028
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The research report focuses on the current market trends, opportunities, future potential of the market, a...
/newsHow Coronavirus is Impacting Cold Brew Coffee, Global Market Volume Analysis, Size, Share and Key Trends 2020-2026
"Market Latest Research Report 2020:
Los Angles United States, February 2020: The Cold Brew Coffee market has been garnering remarkable momentum in the recent years. The steadily escalating demand due to improving purchasing power is projected to bode well for the global market. QY Research's lates...
/newsCorporate E-Learning Market - Global Industry Size, Share, Key Players Analysis that are Infor, SkillSoft Corporation, Adrenna, CERTPOINT Systems and others with Regional Forecast to 2022
Overview:
E-Learning is used to enhance the learning procedures for newer job requirements and to make employees sound about the internal and external changes in the market and respective organizations. This method has created considerable differences in the ways of training and developing employee...
