NEW YORK, NY / ACCESSWIRE / May 24, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Oddity Tech Ltd. ("Oddity" or the "Company") (NASDAQ:ODD). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Oddity and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On May 21, 2024, Ningi Research ("Ningi") published a short report on Oddity, alleging that the Company "completely misled investors about every critical aspect of its business, concealing a large brick-and-mortar business and sales generated by dishonest marketing tactics." Among other allegations, the Ningi report asserts that, although Oddity purports to be "an ‘online-only' company", Ningi "found extensive evidence that Oddity owns and operates 43 stores, and six beauty schools which have never been disclosed to investors in SEC filings"; that "[l]arge parts of the company's Israeli operations remain undisclosed and unaudited"; that "the finance department at Oddity is full of red flags"; and that Ningi "suspect[s] Oddity's employee count is understated."
On this news, Oddity's stock price fell $3.02 per share, or 7.37%, to close at $37.97 per share on May 21, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP
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