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Case Status:    ONGOING    
On or around 09/08/2020 (Date of last review)

Filing Date: September 04, 2020

According to the Complaint, Coty Inc.is one of the world’s largest beauty companies. The Company operates three divisions: Coty Consumer Beauty (“Consumer Beauty”) which focuses on color cosmetics, retail hair coloring and styling products, body care and mass fragrances sold primarily in the mass retail channels; Coty Luxury (“Coty Luxury”) which focuses on prestige fragrances and skincare brands; and Coty Professional Beauty (“Coty Professional”) which focuses on servicing nail salon owners and professionals in both hair and nail.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose material adverse facts about Coty’s business, operations, and prospects. Specifically, the Complaint alleges Defendants misrepresented and/or failed to disclose: (1) that despite being no stranger to beauty brand acquisitions, Coty did not have adequate processes and procedures in place to assess and properly value the P&G Specialty Beauty Business and Kylie Cosmetics acquisitions; (2) that as a result, Coty had overpaid for the P&G Specialty Beauty Business and Kylie Cosmetics; (3) that Coty did not have adequate infrastructure to smoothly integrate and support the beauty brands that it acquired from P&G, including an adequate supply chain; (4) that, as a result of its inadequate infrastructure, Coty was not successfully integrating the beauty brands it acquired from P&G and not delivering synergies from the acquisition; (5) and that, as a result of the foregoing, Coty’s financial statements and Defendants’ statements about Coty’s business, operations, and prospects, were materially false and/or misleading at all relevant times.

COMPANY INFORMATION:

Sector: Consumer Non-Cyclical
Industry: Personal & Household Products
Headquarters: Netherlands

SECURITIES INFORMATION:

Ticker Symbol: COTY
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 20-CV-07277
JUDGE: Hon. Louis L. Stanton
DATE FILED: 09/04/2020
CLASS PERIOD START: 10/03/2016
CLASS PERIOD END: 05/28/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Roche Cyrulnik Freedman LLP
  2. The Schall Law Firm
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available