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The Honest Company, Inc. (NASDAQ: HNST) Investor Notice: Update in Lawsuit

09-08-2022 03:21 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit is pending for certain investors in The Honest Company, Inc. (NASDAQ: HNST).

A lawsuit is pending for certain investors in The Honest Company, Inc. (NASDAQ: HNST).

The Shareholders Foundation announced an update in the lawsuit that its pending for certain investors in The Honest Company, Inc. (NASDAQ: HNST).

Investors who purchased shares of The Honest Company, Inc. (NASDAQ: HNST) have certain options and for certain investors are short and strict deadlines running. Deadline: November 15, 2021. NASDAQ: HNST investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On September 15, 2021, a lawsuit was filed against The Honest Company, Inc over alleged violations of Federal Securities Laws in connection with the Company's May 2021 initial public offering ("IPO"). The plaintiff alleged on behalf of investors, who purchased The Honest Company, Inc. (NASDAQ: HNST) common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the "Registration Statement") issued in connection with the Company's May 2021 IPO, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claimed that the Registration Statement was materially false and misleading and omitted that, prior to the IPO, the Company's results had been significantly impacted by a multimillion-dollar COVID-19 stock-up for products in the Diapers and Wipes category and Household and Wellness category, that, at the time of the IPO, the Company was experiencing decelerating demand for such products, that, as a result, the Company's financial results would likely be adversely impacted, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

On February 21, 2021, a consolidated complaint was filed and on March 14, 2021, the Defendants filed a Motion to Dismiss the consolidated Complaint.

On July 18, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.

Those who purchased shares of The Honest Company, Inc. (NASDAQ: HNST) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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