|By PR Newswire||
|March 28, 2014 08:22 PM EDT||
NEW YORK, March 28, 2014 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Coty, Inc. ("Coty" or the "Company") (NYSE: COTY) of the April 14, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Coty, certain executives and directors of Coty, and the underwriters of the Company's Initial Public Offering ("IPO").
A complaint has been filed on behalf of all persons who purchased or otherwise acquired Coty securities pursuant and/or traceable to the Company's June 13, 2013 IPO in the Southern District of New York.
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that Defendants made false and/or misleading statements and/or failed to disclose that during the quarter prior to the IPO: (i) consumption of Coty's products was materially declining to the point that products were being returned from retailers and (ii) Sally Hansen and the Company's other nail products had experienced a material decline leading to the sales of those products being flat and were negative in July 2013. Additionally, Coty failed to disclose that mass retailers were not refilling inventory, or were restocking a smaller amount of inventory, which was a material negative trend that would indicate a material decline in the Company's revenue.
Since the IPO, Coty's common stock price dropped $4.67 per share, or over 26%, hitting a low of $12.83 per share on February 5, 2014.
Request more information now by clicking here: www.faruqilaw.com/COTY. There is no cost or obligation to you.
If you invested in Coty stock or options pursuant and/or traceable to the Company's June 13, 2013 IPO and would like to discuss your legal rights, visit www.faruqilaw.com/COTY. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [email protected] or [email protected]. Faruqi & Faruqi, LLP also encourages anyone with information regarding Coty's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
SOURCE Faruqi & Faruqi, LLP
Aug. 27, 2016 12:15 AM EDT Reads: 2,248
Aug. 26, 2016 11:15 PM EDT Reads: 1,743
Aug. 26, 2016 10:45 PM EDT Reads: 2,056
Aug. 26, 2016 10:00 PM EDT Reads: 1,838
Aug. 26, 2016 09:15 PM EDT Reads: 1,424
Aug. 26, 2016 07:15 PM EDT Reads: 396
Aug. 26, 2016 07:00 PM EDT Reads: 695
Aug. 26, 2016 07:00 PM EDT Reads: 651
Aug. 26, 2016 06:00 PM EDT Reads: 1,922
Aug. 26, 2016 05:00 PM EDT Reads: 666
Aug. 26, 2016 04:45 PM EDT Reads: 1,530
Aug. 26, 2016 04:30 PM EDT Reads: 2,308
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Aug. 26, 2016 04:00 PM EDT Reads: 3,931
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH. Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...
Aug. 26, 2016 03:45 PM EDT Reads: 560
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
Aug. 26, 2016 03:15 PM EDT Reads: 434