NEW ORLEANS, August 20, 2024 (GLOBE NEWSWIRE) — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Louisiana Attorney General Charles C. Foti, Jr., remind 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.
What you can do
If you purchased Oddity securities and would like to discuss your legal rights, how this case affects you and your right to recover your economic loss, you may contact KSF Managing Partner Lewis Kahn, without obligation and at no cost, at toll-free 1-877-515-1850 or via email ([email protected]) or visit https://www.ksfcounsel.com/cases/nasdaqgm-odd/ to learn more. If you wish to serve as lead plaintiff in this class action, you must move the Court by 17 September 2024.
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.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s leading boutique securities litigation firms. KSF serves a wide range of clients – including public institutional investors, hedge funds, asset managers and individual investors – in recovering investment losses resulting from corporate fraud or abuse of authority by publicly traded companies. KSF maintains offices in New York, Delaware, California, Louisiana and New Jersey.
To learn more about KSF, visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163
