NEW YORK CITY, NY / ACCESSWIRE / November 24, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of e.l.f. Beauty, Inc. ("e.l.f. Beauty" or "the Company") (NYSE:ELF). Investors who purchased e.l.f. Beauty securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/ELF.
Investigation Details
On November 20, 2024, Muddy Waters Research ("Muddy Waters") published a report alleging that e.l.f. Beauty had "materially overstated revenue over the past three quarters," and that in "Q2 FY24, ELF management realized its growth narrative was in trouble as its inventory built. It appears that ELF then began reporting inflated revenue and profits. Its reported inventory also appears materially inflated as a result - i.e., to account for cash that has not really come in." Following publication of the Muddy Waters report, e.l.f. Beauty's stock price fell $2.71 per share, or 2.23%, to close at $119.00 per share on November 20, 2024.
What's Next?
If you are aware of any facts relating to this investigation or purchased e.l.f. Beauty securities, you can assist this investigation by visiting the firm's site: bgandg.com/ELF. You can also contact Peretz Bronstein or his client relations manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660
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Contact
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC