SAN DIEGO, Feb. 27, 2018 /PRNewswire/ -- Johnson Fistel, LLP is investigating potential violations of the federal securities laws by Ulta Beauty, Inc. (NASDAQ: ULTA) ("Ulta") and certain of its officers. Ulta operates as a beauty retailer in the United States. The Company's stores provide cosmetics, fragrance, skincare, haircare, bath and body products, and salon styling tools, as well as others, including nail products and accessories.
On Friday, February 9, 2018, after the market closed, it was reported that a consumer class action lawsuit had been filed against Ulta. The suit alleges that Ulta has surreptitiously been restocking used cosmetics, including makeup and selling them alongside unblemished products at full price. Following this news, Ulta's share price fell 4.15% on February 12, 2018.
On February 23, 2018, CBS News published a story on the restocking practice on its website. A former employee stated Ulta had been deceiving consumers for years by repackaging, restocking and reselling used beauty products including cosmetics at full price. The ex-employee alleged that higher-level managers pressured stores to keep the dollar amount of damaged or returned goods down.
If you have information that could assist in this investigation, including former employees and others, or if you are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (jimb@johnsonfistel.com) by email or by phone at 619-814-4471. If you email, please include your phone number.
Confidentiality to whistleblowers or others with information relevant to these investigations is guaranteed.
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
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