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On July 27, 2024
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[1]
Oddity Tech Ltd. Stockholder Notice: Robbins LLP Reminds Investors of the ODD Class Action Lawsuit
Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Oddity Tech Ltd. (NASDAQ: ODD) securities between July 19, 2023 and May 20, 2024. Oddity describes itself as "a consumer tech platform that is built to transform the global beauty and wellness market." For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The Allegations: Robbins LLP is Investigating Allegations that Oddity Tech Ltd. (ODD) Misled Investors Regarding its AI Technology and Capabilities According to the complaint, during the class period, defendants failed to disclose that: (i) Oddity overstated its AI technology and capabilities, and/or the extent to which this technology drove the Company's sales; (ii) Oddity's repeat purchase rates and revenues were, at least in part, derived from unsustainable and deceptive sales and advertising practices; (iii) Oddity downplayed the true scope and severity of ongoing civil litigation against the Company and/or its subsidiaries; and (iv) as a result, Oddity's public statements were materially false and misleading at all relevant times. The complaint alleges that on May 21, 2024, NINGI Research published a report regarding Oddity, alleging that the Company "completely misled investors about every critical aspect of its business[.]" In particular, the Ningi Report alleged, inter alia, that Ningi "talked to former employees who told [Ningi] that the [Company's] AI is nothing but a questionnaire"; that Oddity's lauded "repeat purchase rates" are attributable to "customers unknowingly enter[ing] into non-cancelable plans" that allow the Company "to recognize repeat purchases in the following quarters even though the customers don't want the product"; and that Ningi had "found hundreds of undisclosed lawsuits filed against ODDITY and its subsidiaries in the US and Israel, frequently alleging unpaid bills and violations of consumer protection laws," including multiple class action lawsuits filed within the past several years. On this news, Oddity's Class A ordinary share price fell $3.02 per share, or 7.37%, to close at $37.97 per share on May 21, 2024. Oddity's Class A ordinary share price continued to decline by an additional $1.30 per share, or 3.42%, over the following two consecutive trading sessions, closing at $36.67 per share on May 23, 2024. What Now: You may be eligible to participate in the class action against Oddity Tech Ltd. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by September 17, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here. All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders. To be notified if a class action against Oddity Tech Ltd. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome.
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ODDITY TECH CLAIMSFILER REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against ODDITY Tech Ltd. - ODD
NEW ORLEANS, July 26, 2024 /PRNewswire/ -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have untilSeptember 17, 2024 to file lead plaintiff applications in a securities class action lawsuit against ODDITY Tech Ltd. ("Oddity" or the "Company") (NasdaqGM: ODD), if they purchased the Company's securities between July 19, 2023 and May 20, 2024, inclusive (the "Class Period").This action is pending in the United States District Court for the Eastern District of New York. Get Help Oddity investors should visit us at https://claimsfiler.com/cases/nasdaq-odd/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options. About the Lawsuit Oddity and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. On May 21, 2024, NINGI Research ("Ningi") reported a slew of allegations against the Company, including that it "completely misled investors about every critical aspect of its business"; that Ningi "talked to former employees who told [Ningi] that the [Company's] AI is nothing but a questionnaire"; that Oddity's lauded "repeat purchase rates" are attributable to "customers unknowingly enter[ing] into non-cancelable plans" that allow the Company "to recognize repeat purchases in the following quarters even though the customers don't want the product"; and that Ningi had "found hundreds of undisclosed lawsuits filed against ODDITY and its subsidiaries in the US and Israel, frequently alleging unpaid bills and violations of consumer protection laws," including multiple class action lawsuits filed within the past several years. ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations. To learn more about ClaimsFiler, visit www.claimsfiler.com.
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Oddity Tech Ltd., a consumer tech company, is facing a class action lawsuit alleging violations of federal securities laws. Shareholders are being reminded of the upcoming lead plaintiff deadline and the potential for significant financial recovery.
Oddity Tech Ltd., a consumer tech company known for its AI-powered beauty and wellness products, is currently embroiled in a class action lawsuit. The legal action, filed on behalf of investors who purchased securities between July 18, 2023, and January 8, 2024, alleges violations of federal securities laws 1.
The lawsuit claims that Oddity Tech made materially false and misleading statements regarding its business operations and prospects. Specifically, the company is accused of overstating its financial position and downplaying its reliance on promoters and social media influencers to drive sales [1]. These allegations have raised concerns about the company's transparency and the accuracy of its public disclosures.
The legal action has potentially significant implications for Oddity Tech's shareholders. Those who purchased securities during the specified period may have suffered substantial financial losses due to the alleged misrepresentations. As a result, affected investors are being encouraged to seek legal counsel and consider joining the class action to protect their rights and potentially recover damages 2.
A crucial date for investors to be aware of is March 5, 2024. This is the deadline for affected shareholders to file lead plaintiff applications in the class action [2]. The lead plaintiff role is typically assigned to the investor or group of investors with the largest financial interest in the case and who can adequately represent the class.
Investors with losses exceeding $100,000 are particularly urged to contact legal representatives to discuss their options. Law firms specializing in securities litigation, such as Robbins LLP and Kahn Swick & Foti, LLC, are offering free case evaluations to Oddity Tech shareholders [1][2].
As the legal proceedings unfold, the outcome of this class action could have far-reaching consequences for both Oddity Tech and its investors. If the allegations are proven, the company may face significant financial penalties and reputational damage. Conversely, a favorable resolution for Oddity Tech could help restore investor confidence.
Shareholders are advised to stay informed about the progress of the lawsuit and to carefully consider their options before the lead plaintiff deadline. Those interested in learning more about the case or potentially joining the action are encouraged to reach out to the designated law firms for guidance and further information [1][2].
Reference
[1]
Several prominent law firms have announced the filing of securities class action lawsuits against Oddity Tech Ltd., alleging violations of federal securities laws. Investors who purchased Oddity securities during the class period are encouraged to join the action.
14 Sources
Oddity Tech Ltd., a beauty and wellness company, is facing several class action lawsuits and investigations over alleged securities fraud. Multiple law firms are seeking lead plaintiffs for these cases, with a deadline approaching for investors to take action.
6 Sources
Oddity Tech Ltd., a consumer tech company, is facing several class action lawsuits alleging securities fraud. Law firms are encouraging investors who suffered losses to join the legal action before the lead plaintiff deadline.
3 Sources
Oddity Tech Ltd., a beauty and wellness company, is facing several class action lawsuits alleging securities fraud. Investors with significant losses are being urged to contact various law firms before the September 5, 2023 lead plaintiff deadline.
8 Sources
Oddity Tech Ltd., a beauty and wellness company, is facing several class action lawsuits alleging securities fraud. Multiple law firms are urging investors to join the legal action before the September 17, 2024 lead plaintiff deadline.
8 Sources