The law firm of Kirby McInerney LLP is investigating potential claims against Waldencast plc (“Waldencast” or the “Company”) (NASDAQ: WALD). The investigation concerns whether Waldencast and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
Waldencast focuses on developing and acquiring skin care and beauty product brands.
On April 25, 2023, Waldencast announced that it will be unable to file its 2022 annual report on time and will be postponing its fiscal year 2022 and fourth quarter earnings call due to an ongoing review of the Company’s year-end 2022 financial statements. Specifically, the Company is conducting an analysis regarding certain accounting issues in connection with the sale of certain Obagi products for the Vietnam market. On this news, the price of Waldencast shares declined by $0.57 per share, or approximately 6.20%, from $9.20 per share to close at $8.63 on April 25, 2023.