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OLPX.US
id: 412
C.D. California
Court2:22-cv-08395
Case number09/30/2021
Class period Start10/17/2023
Class period EndOn October 18, 2022, after the market close, Olaplex (OLPX) announced a disappointing guidance cut and the sudden departure of the COO, Tiffany Walden.
On this news, OLPX stocks dropped over 56% and lost about $3.6 billion of its capitalization.
No factors or earlier statements by the Company foreshadowed such a turn of events. “We find COO Tiffany Walden’s sudden resignation…concerning,” writes JPMorgan analyst Andrea Teixeira.
Overall, Investors in Olaplex shares have grounds to suspect that the Company and its Leaders misinformed them about business prospects and developments.
Case Status
Motion to dismiss
Alleged Offence
Mismanagement,
Misleading Statements,
Financial Misrepresentation,
Failure to Disclose,
Negligence,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
10/18/2022
Filing date
04/28/2023