The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired Coty Inc. (“Coty” or the “Company”) (NYSE: COTY) securities during the period from October 3, 2016 through May 28, 2020, inclusive (the “Class Period”). Investors have until November 3, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
According to the Complaint, the Company made false and misleading statements to the market. 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. As a result, the Company overpaid for the P&G Specialty Beauty Business and Kylie Cosmetics. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Coty, investors suffered damages.
If you acquired Coty securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney at 212-371-6600, by email at firstname.lastname@example.org, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.