NEW ORLEANS, August 7, 2024 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until 17 September 2024 to file lead plaintiff motions in a 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 U.S. District Court for the Eastern District of New York.
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Oddity investors should visit us at https://claimsfiler.com/cases/nasdaq-odd/ or call toll free (844) 367-9658. The attorneys at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the lawsuit
Oddity and certain of its executives are alleged to have failed to disclose material information during the Class Period, in violation of the federal securities laws.
On May 21, 2024, NINGI Research (“Ningi”) reported a series of allegations against the company. Among other things, it said it had “completely misled investors about every critical aspect of its business”; Ningi had “spoken to former employees who told (Ningi) that (the company’s) AI was nothing more than a questionnaire”; Oddity’s vaunted “repeat purchase rates” were due to “customers unknowingly entering into non-cancellable plans” that allow the company to “record repeat purchases in subsequent quarters even though customers don’t want the product”; and Ningi had found “hundreds of undisclosed lawsuits against ODDITY and its subsidiaries in the U.S. and Israel, often alleging unpaid bills and violations of consumer protection laws,” including several class action lawsuits filed in recent years.
On this news, Oddity stock price fell $3.02 per share, or 7.37%, to close at $37.97 per share on May 21, 2024.
The case is Hoare v Oddity Tech Ltd. et al. 24-cv-05037.
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ClaimsFiler has a single mission: to serve as a resource to help retail investors obtain their share of billions of dollars from class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various class action lawsuits so they can file their own claims in a timely manner; (2) upload their portfolio transaction data to be notified of relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the law firm of Kahn Swick & Foti, LLC to receive free case evaluations.
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