Coty Inc.

Period: 10/03/2016 to 05/28/2020
Lead Plaintiff Deadline: 11/03/2020

SUMMARY OF CASE:

A securities class action has been filed against Coty Inc. (COTY) on behalf of a class consisting of investors who purchased or otherwise acquired Coty securities between October 3, 2016 through May 28, 2020.  This case has been filed in the USDC – S.D.N.Y.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose material adverse facts about Coty’s business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose: (1) that despite being no stranger to beauty brand acquisitions, Coty did not have adequate processes and procedures in place to assess and properly value the P&G Specialty Beauty Business and Kylie Cosmetics acquisitions; (2) that as a result, Coty had overpaid for the P&G Specialty Beauty Business and Kylie Cosmetics; (3) that Coty did not have adequate infrastructure to smoothly integrate and support the beauty brands that it acquired from P&G, including an adequate supply chain; (4) that, as a result of its inadequate infrastructure, Coty was not successfully integrating the beauty brands it acquired from P&G and not delivering synergies from the acquisition; (5) and that, as a result of the foregoing, Coty’s financial statements and Defendants’ statements about Coty’s business, operations, and prospects, were materially false and/or misleading at all relevant times.