NEW YORK, March 28, 2018 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in
Ulta Beauty, Inc. (“Ulta Beauty” or the “Company”) (NASDAQ:ULTA) of the May 1, 2018 deadline to seek the role of lead plaintiff in
a federal securities class action that has been filed against the Company.
If you invested in Ulta Beauty stock or options between March 30, 2016 and February 23, 2018 and would like to
discuss your legal rights, click here: www.faruqilaw.com/ULTA. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at
212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.
CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
The lawsuit has been filed in the U.S. District Court for the Northern District of Illinois on behalf of all those who purchased
Ulta Beauty securities between March 30, 2016 and February 23, 2018 (the “Class Period”). The case, Chandler v. Ulta
Beauty, Inc. et al, No. 1:18-cv-01577 was filed on March 2, 2018.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading
statements and/or failing to disclose that: (i) the Company was engaged in the widespread practice of repackaging returned
cosmetics and re-shelving them alongside unblemished products to sell at full retail price; and (ii) as a result, the Company’s
public statements were materially false and misleading.
Specifically, on February 9, 2018, media outlets reported that a consumer class action lawsuit had been filed against Ulta
Beauty, alleging that the Company engaged in the “widespread and surreptitious” practice of repacking returned cosmetics and
re-shelving them alongside unblemished products to sell at full price. On this news, Ulta Beauty’s share price fell from
$218.55 per share on February 9, 2018 to a closing price of $209.48 on February 12, 2018—a $9.07 or a 4.15% drop.
Then, on February 23, 2018, CBS News published a story reporting on statements initially made on Twitter by at least
one former Ulta Beauty employee, to the effect that Ulta Beauty store managers frequently pressured its employees to clean and
resell used products. On this news, Ulta Beauty’s share price fell from $207.11 per share on February 23, 2018 to a closing
price of $198.93 on February 26, 2018—a $8.18 or a 3.95% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is
adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the
putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and
remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff
or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Ulta Beauty’s conduct to contact the firm, including
whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results
do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your
particular case. All communications will be treated in a confidential manner.
