ODDITY Tech Ltd (ODD) Stock Lawsuit Investigation
At a glance
What is the ODDITY Tech Ltd (NASDAQ: ODD) Securities Class Action Lawsuit Investigation about?
Gibbs Law Group is investigating potential claims on behalf of ODDITY Tech investors.What did ODDITY Tech do wrong?
We are investigating whether ODDITY Tech has violated federal securities laws by providing false or misleading statements to investors.What do you get out of this?
This potential lawsuit seeks to help ODDITY Tech shareholders recover their losses.
Lost Money in ODDITY Tech (ODD)?
You may be eligible to recover your losses. Get a free and confidential consultation.
(Please provide number of shares, purchase date, and estimated losses.)
Why is ODDITY Tech (ODD) stock dropping?
On May 21, 2024, NINGI Research published a report claiming that consumer technology company ODDITY Tech Ltd has misled investors by misrepresenting itself as an online-only company, using deceptive sales tactics, and failing to state that large parts of the company’s operations in Israel “remain undisclosed and unaudited,” among other things.
Despite purportedly marketing itself as an online-only company, NINGI Research claims that it has “found extensive evidence that ODDITY owns and operates 43 stores and six beauty schools which have never been disclosed to investors in SEC filings,” and that “ODDITY’s insiders and backers have egregiously sold over $400 million of stock to investors at IPO who were under the impression that it is a totally digital business.”
According to the report, Oddity Tech also “quietly restated its revenue contribution for 2022 and 2021 by $26.2 million, its 2020 revenue by $5.4 million, and identified a material weakness in its internal controls over financial reporting,” and then used a loophole to delay its next assessment of its internal controls until 2025.
Following this news, shares of Oddity Ltd dropped over 12% in intraday trading on Tuesday, May 21, 2024, causing significant harm to investors.
Our Securities Lawyers Have a Winning Record Against Companies Like The Chemours Company
Our securities lawyers have recovered over a billion dollars on behalf of our clients against behemoths, such as Chase Bank, Mastercard, and Anthem Blue Cross Blue Shield. Read more about our results.
You “shouldn’t presume that powerful banks and other powerful interests can just get away with doing bad things. Good, qualified counsel that are committed to a cause can usually figure out how to prosecute such cases effectively and prevail.”
–Eric Gibbs, award-winning securities attorney
Praise from the Courts
Federal judge in our AT&T class action:
“I’ve always found them to be extraordinary counsel in terms of their preparation and their professionalism.”
Federal judge in our Chase lawsuit (resulting in $100 million settlement):
They “fought tooth and nail, down to the wire” to achieve “the best settlement that they could under the circumstances.”
Read more about what judges say about us.