SAN DIEGO, Oct. 5, 2021 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of The Honest Company, Inc. ("The Honest Company" or the "Company") (NASDAQ: HNST). The class action is on behalf of shareholders who purchased The Honest Company common stock pursuant or traceable to the May 2021 initial public stock offering (the "IPO"). If you wish to serve as lead plaintiff in this class action, you must move the Court no later than November 15, 2021.
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According to the complaint, The Honest Company and the Offering Documents made false and misleading statements and failed to disclose that: (1) that, prior to the IPO, the Company's results had been significantly impacted by a multimillion-dollar COVID-19 stock-up for products in the Diapers and Wipes category and Household and Wellness category; (2) that, at the time of the IPO, the Company was experiencing decelerating demand for such products; (3) that, as a result, the Company's financial results would likely be adversely impacted; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and lacked a reasonable basis.
A lead plaintiff will act on behalf of all other class members in directing The Honest Company class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor's ability to share any potential future recovery of The Honest Company class action lawsuit is not dependent upon serving as lead plaintiff.
If you suffered a substantial loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker(jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number.
Additionally, you can [click here to join this action]. There is no cost or obligation to you.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP
