Coty Inc. Securities Litigation (2020)

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Lawsuit Overview

Defendant:Coty Inc.
Date Filed:September 4th, 2020
Sector:Consumer Non-Durables
Industry:Package Goods/Cosmetics
Class Start Date:October 3rd, 2016
Class End Date:May 28th, 2020

According to the Complaint, Coty Inc.is one of the world's largest beauty companies. The Company operates three divisions: Coty Consumer Beauty ("Consumer Beauty") which focuses on color cosmetics, retail hair coloring and styling products, body care and mass fragrances sold primarily in the mass retail channels; Coty Luxury ("Coty Luxury") which focuses on prestige fragrances and skincare brands; and Coty Professional Beauty ("Coty Professional") which focuses on servicing nail salon owners and professionals in both hair and nail.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose material adverse facts about Coty's business, operations, and prospects. Specifically, the Complaint alleges Defendants misrepresented and/or failed to disclose: (1) that despite being no stranger to beauty brand acquisitions, Coty did not have adequate processes and procedures in place to assess and properly value the P&G Specialty Beauty Business and Kylie Cosmetics acquisitions; (2) that as a result, Coty had overpaid for the P&G Specialty Beauty Business and Kylie Cosmetics; (3) that Coty did not have adequate infrastructure to smoothly integrate and support the beauty brands that it acquired from P&G, including an adequate supply chain; (4) that, as a result of its inadequate infrastructure, Coty was not successfully integrating the beauty brands it acquired from P&G and not delivering synergies from the acquisition; (5) and that, as a result of the foregoing, Coty's financial statements and Defendants' statements about Coty's business, operations, and prospects, were materially false and/or misleading at all relevant times.

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First Identified Complaint

Crystal Garrett-Evans, et al. v. Coty Inc., et al.

Date Filed:September 4th, 2020
Class Period Start:October 3rd, 2016
Class Period End:May 28th, 2020
First Identified Complaint Filings
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