SAN FRANCISCO, Dec. 22, 2023 (GLOBE NEWSWIRE) -- Hagens Berman urges The Beauty Health Company (NASDAQ: SKIN) investors who suffered substantial losses to submit your losses now.
Class Period: May 10, 2022 – Nov. 13, 2023
Lead Plaintiff Deadline: Jan. 16, 2024
Visit: www.hbsslaw.com/investor-fraud/SKIN
Contact An Attorney Now: SKIN@hbsslaw.com
844-916-0895
The Beauty Health Company (NASDAQ: SKIN) Securities Fraud Class Action:
Numerous analysts recently slashed their ratings of SKIN, expressing concerns about the continued Syndeo machine issues and shelfing of its growth plans.
The analyst downgrades come in the wake of securities class action litigation brought against Beauty Health and certain of its executives, stemming from the company’s disappointing third quarter results and disclosed problems with its Syndeo systems.
The securities class action complaint alleges that Beauty Health failed to disclose that: (1) Syndeo 1.0 and 2.0 devices had issues leading to “frequent treatment interruptions;” (2) as a result, the company incurred significant costs to develop enhancements; (3) despite the enhancements, providers continued to experience issues with Syndeo devices; and (4) as a result, the company would discontinue marketing Syndeo 1.0 and 2.0 devices and incur significant inventory write-downs.
In the aftermath, Beauty Health has experienced several downgrades and price target cuts by leading securities analysts. Korinne Wolfmeyer of Piper Sandler is among them, who reportedly downgraded the stock to a “Sell” due to the “chaotic and uncertain” conditions at the company. Wolfmeyer reportedly noted a deficiency of visibility and confidence in the current management’s communication.
“We’re investigating whether Beauty Health executives knew and should have disclosed earlier severe performance issues with its Syndeo devices,” said Reed Kathrein, the partner leading the firm’s investigation.
If you invested in Beauty Health and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »
If you’d like more information and answers to frequently asked questions about the Beauty Health case and our investigation, read more »
Whistleblowers: Persons with non-public information regarding Beauty Health should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email SKIN@hbsslaw.com.
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
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Contact:
Reed Kathrein, 844-916-0895
