ULTA INVESTIGATION UPDATE by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Continues to Investigate the Officers
and Directors of Ulta Beauty, Inc. - ULTA
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC
(“KSF”), announces that KSF continues its investigation into Ulta Beauty, Inc. (NasdaqGS: ULTA).
On February 9, 2018, media reports revealed a consumer class action lawsuit filed against Ulta based on a wide-ranging scheme
involving employees reselling returned, used products as new. Then, on February 23, 2018, further media reports recounted
statements from a former Ulta employee of being pressured by store managers to resell used products. Thereafter, the Company and
certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material
information during the Class Period, violating federal securities laws, which is ongoing.
Recently, an Ulta shareholder filed a shareholder derivative lawsuit on behalf of the Company against its current and former
directors and executives for breaches of fiduciary duty and unjust enrichment stemming from its widespread use of deceptive sales
practices, failure to disclose that information to shareholders, and selling off shares of personal Ulta stock for proceeds of more
than $97 million before the adverse information became public knowledge.
KSF’s investigation is focusing on whether Ulta’s officers and/or directors breached their fiduciary duties to Ulta’s
shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Ulta shares and would
like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF
Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or visit
https://www.ksfcounsel.com/cases/nasdaqgs-ulta/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities,
antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly
traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit
www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
View source version on businesswire.com: https://www.businesswire.com/news/home/20190412005496/en/