e.l.f. Beauty Is Now Under Investigation by Johnson Fistel on Behalf of Shareholders Who Incurred Losses on Their Investment

Globe Newswire 20-Nov-2024 4:25 PM

SAN DIEGO, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Johnson Fistel, LLP is investigating whether e.l.f. Beauty, Inc. (NYSE:ELF) or any of its executive officers violated securities laws by misrepresenting or failing to timely disclose material information to investors.

On November 20, 2024, Muddy Waters Research issued a report regarding e.l.f. Beauty. The report states that "Muddy Waters is short e.l.f. Beauty, Inc. (ELF) because we believe it has materially overstated revenue over the past three quarters – possibly by ~$135 million to ~$190 million. We believe 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."

What if I purchased E.L.F. securities? If you purchased securities and suffered losses on your investment, join our investigation now: https://www.johnsonfistel.com/investigations/elf-beauty-inc Or for more information, contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471. There is no cost or obligation to you.

What if I have relevant nonpublic information? Individuals with nonpublic information regarding the company should consider whether to assist our investigation or take advantage of the SEC Whistleblower program. Under the SEC program, whistleblowers who provide original information may, under certain circumstances, receive rewards totaling up to thirty percent of any successful recovery made by the SEC. For more information, contact Jim Baker at (619) 814-4471 or jimb@johnsonfistel.com.

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.

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Contact:
Johnson Fistel, LLP
501 W. Broadway, Suite 800, San Diego, CA 92101
James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
jimb@johnsonfistel.com or fjohnson@johnsonfistel.com