Coty Inc. is a French-American multinational beauty company founded in 1904. With its subsidiaries, it develops, manufactures, markets, and distributes fragrances, cosmetics, and skin, nail, and hair care products.
According to the law firm press release, the Complaint is brought on behalf of persons and/or entities who purchased or otherwise acquired the common stock of Coty pursuant and/or traceable to the Company’s registration statement filed with the U.S. Securities and Exchange Commission (“SEC”) on Form S-1/A on May 28, 2013, and prospectus filed with the SEC on Form 424(b)(4) on June 13, 2013, (collectively the “Registration Statement”), in the Company’s initial public offering of over 57 million shares of common stock at a price of $17.50 per share (the “Class”).
The Complaint alleges that the Defendants violated Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 because the Registration Statement contained untrue statements of material facts or omitted to state material facts necessary to make the statements made not misleading, and was not prepared in accordance with the applicable SEC rules and regulations governing its preparation.
On May 2, 2014, the Court issued an Order consolidating actions, appointing lead Plaintiff, and approving the selection of lead Counsel. Lead Plaintiffs filed a consolidated and amended Complaint on July 9.
Lead Plaintiffs filed an additional amended Complaint on October 18, 2014.
On March 29, 2016, the Court issued an Order granting Defendants' motion to dismiss. The Clerk of the Court was directed to close this case.