Press release
Investigation announced for Investors who lost money with shares of Oddity Tech Ltd. (NASDAQ: ODD)
An investigation for investors in Oddity Tech Ltd. (NASDAQ: ODD) shares over potential securities laws violations by Oddity Tech.
Investors who purchased shares of Oddity Tech Ltd. (NASDAQ: ODD), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Oddity Tech Ltd. (NASDAQ: ODD) concerning whether a series of statements by Oddity Tech Ltd. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Israel based Oddity Tech Ltd. operates as a consumer tech company that builds digital-first brands for the beauty and wellness industries in the United States and internationally. Oddity Tech Ltd. Reported that its annual Total Revenue rose from $324.52 million in 2022 to $508.68 million in 2023, and that its Net Income rose from $21.72 million in 2022 to $58.53 million in 2023.
On May 21, 2024, NINGI Research issued a report claiming Oddity Tech Ltd. "at best, misrepresented itself as an 'online-only' company. In reality, and contrary to this claim, we found extensive evidence that ODDITY owns and operates 43 stores, and six beauty schools which have never been disclosed to investors in SEC filings. "
Further stating "we called all 43 stores and even visited a number of locations in Israel where we discovered that these retail stores are not franchisees but owned by ODDITY. Meanwhile, ODDITY's beauty schools have thousands of enrolled students for year-round studies. In our opinion, the brick-and-mortar operations are likely a material contributor to ODDITY's DTC earnings." The report also claims Oddity Tech Ltd. engages in deceptive billing practices.
Shares of Oddity Tech Ltd. (NASDAQ: ODD) declined to as low as $33.52 per share on May 21, 2024.
Those who purchased shares of Oddity Tech Ltd. (NASDAQ: ODD) 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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