The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Olaplex Holdings, Inc. (NASDAQ: OLPX) who purchased common stock pursuant and/or traceable to the Company’s initial public offering conducted on or around September 30, 2021. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the Olaplex lawsuit alleges that (i) macroeconomic pressures and competition in the haircare market were more robust than the Company had represented to investors; (ii) accordingly, the Company was unlikely to maintain its sales and revenue momentum; and (iii) as a result, it was unlikely that the Company would be able to achieve the financial and operational growth projected in the offering documents; and (iv) as a result, the offering documents were materially false and/or misleading and failed to state information required to be stated therein.
Shareholders have until January 17, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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