LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national firm specializing in shareholder rights litigation, announces that it is investigating claims on behalf of investors of Olaplex Holdings, Inc. (“Olaplex” or “the Company “) (NASDAQ: OLPX) for violating securities laws.
The investigation aims to determine whether the Company has made false and/or misleading statements and/or has failed to disclose relevant information to investors. Olaplex lowered its financial guidance for fiscal year 2022 on Oct. 18, 2022. The company attributed the change in negative outlook to “a slowdown in sales momentum which it attributes to macro-economic pressures, increased competitive activity, including discounts, and to a moderation of the customer’s purchase news.” The company also announced the resignation of its COO. Based on this news, Olaplex shares fell 56.7% on October 19, 2022.
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