PHILADELPHIA, Feb. 12, 2025 (GLOBE NEWSWIRE) —
Olaplex Holdings, Inc. (NASDAQ: OLPX):
Grabar Law Office is investigating claims on behalf of shareholders of Olaplex Holdings, Inc. (NASDAQ: OLPX). The investigation concerns whether certain officers of Olaplex breached the fiduciary duties they owed to the Company.
Current shareholders who acquired Olaplex shares on or near the September 29, 2021 IPO,
can
seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them. Visit https://grabarlaw.com/the-latest/olaplex-shareholder-investigation/ or contact Joshua H. Grabar at [email protected] or call 267-507-6085 to learn more.
Why? An underlying securities fraud class action complaint has survived Defendants attempts to dismiss the complaint. That complaint arose from Olaplex’s alleged materially misleading Offering Documents issued in connection with its September 29, 2021 Initial Public Offering.
It is alleged that Olaplex’s IPO Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and was not prepared in accordance with the rules and regulations governing its preparation. Specifically, the Complaint alleges the Offering Documents made false and/or misleading statements and/or failed to disclose that: (i) macro-economic pressures and competition in the haircare market were more robust than the Company had represented to investors; (ii) accordingly, the Company was unlikely to maintain its sales and revenue momentum; and (iii) as a result, it was unlikely that the Company would be able to achieve the financial and operational growth projected in the Offering Documents; and (iv) as a result, the Offering Documents were materially false and/or misleading and failed to state information required to be stated therein.
On February 7, 2025, a federal Court issued an Order denying the Defendants’ motion to dismiss the securities fraud class action complaint. In doing so, the Court found that the Plaintiff has sufficiently alleged that Olaplex’s registration statement contained omissions or failures to disclose the EU ban on lilial in Olaplex’s No. 3 product and that this omission was material, rendering Olaplex’s hypothetical warnings misleading to a reasonable investor – and moreover – that the lilial issue was “materially different than its Risk Disclosures led investors to believe.”
What You Can Do Now?
If you are a current shareholder who acquired shares on or near Olaplex’s September 29, 2021 IPO,
you
can
seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to you whatsoever. You are encouraged to visit https://grabarlaw.com/the-latest/olaplex-shareholder-investigation/ or contact Joshua H. Grabar at [email protected] or call 267-507-6085 for further assistance.
Telephone and Data Systems, Inc. (NYSE: TDS):
A federal court has determined that multiple statements made by Telephone and Data Systems, Inc. (NYSE: TDS) officers of were likely made with an intent to deceive the investing public, and therefore a securities fraud class action complaint against Telephone and Data Systems, Inc. and certain of its officers has survived defendants’ motion to dismiss that complaint.
Grabar Law Office is investigating potential breaches of fiduciary duty by certain officers and directors of Telephone and Data Systems, Inc. and its subsidiary, UScellular.
If you have continuously held TDS shares since prior to
May 6, 2022, you may be entitled to seek corporate reforms, the return of funds back to the company, and financial recovery, atno cost to you whatsoever. Visit: https://grabarlaw.com/the-latest/tds-uscellular-shareholder-investigation/, email [email protected] or call Joshua Grabar at 267-507-6085 to learn more.
WHY? An underlying securities fraud class action complaint has survived TDS’s attempts to dismiss the class action complaint. The class action complaint alleges that TDS and its subsidiary, UScellular, via certain of its officers and directors, made materially false and/or misleading statements and/or failed to disclose that: (i) TDS had no reason to believe UScellular’s “free upgrade” promotional activity, which was tested and trialed during the second quarter of 2022, was effective at reducing UScellular’s postpaid churn rate as they represented to investors, as opposed to merely adding new postpaid subscribers, when its churn rate was actually increasing or remaining constant over most quarters in the class period; (ii) UScellular was not making progress with respect to its churn rate, as it represented to investors; (iii) UScellular was not in fact balancing its promotional activity and its profitability; (iv) due to extreme competition among postpaid carriers, UScellular did not have the flexibility to offset the costs from widespread, expensive promotions with price increases; and (v) as a result of the Companies’ decision for UScellular to continue engaging in heavy promotions to address its postpaid subscriber churn rate despite any lack of positive impact on churn rate, UScellular’s profitability substantially declined.
Current TDS shareholders who have continuously held TDS shares since prior to
May 6, 2022, can
seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to them whatsoever – ever.
If you would like to learn more about this matter at no cost to you, you are encouraged to visit https://grabarlaw.com/the-latest/tds-uscellular-shareholder-investigation/, contact Joshua H. Grabar at [email protected], or Mia R. Heller at [email protected], or call 267-507-6085.
Methode Electronics Inc. (NYSE: MEI):
Grabar Law Office is investigating claims on behalf of Methode Electronics Inc. (NYSE: MEI) shareholders. The investigation concerns whether certain officers of Methode Electronics have breached the fiduciary duties they owed to the company.
Current Methode Electronics, Inc. (NYSE: MEI) shareholders who have held Methode Electronics shares since prior to June 23, 2022, can seek corporate reforms, the return of funds back to the company,and a court approved incentive award – allat no cost to them whatsoever. To learn more visit:https://grabarlaw.com/the-latest/methode-shareholder-investigation/, contact Joshua Grabar at [email protected], or call 267-507-6085.
Why: A recently filed underlying securities fraud class action complaint alleges that Methode Electronics, via certain of its officers and directors, made false and/or misleading statements and/or failed to disclose that: (i) Methode Electronics had lost highly skilled and experienced employees during the COVID-19 pandemic necessary to successfully complete Methode Electronics’ transition from its historic low mix, high volume production model to a high mix, low production model at its Monterrey facility; (ii) Methode Electronics’ attempts to replace its General Motors center console production with more diversified, specialized products for a wider array of vehicle manufacturers and OEMs, in particular in the electric vehicle (“EV”) space, had been plagued by production planning deficiencies, inventory shortages, vendor and supplier problems, and, ultimately, botched execution of Methode Electronics’ strategic plans; (iii) Methode Electronics’ manufacturing systems at its critical Monterrey facility suffered from a variety of logistical defects, such as improper system coding, shipping errors, erroneous delivery times, deficient quality control systems, and failures to timely and efficiently procure necessary raw materials; (iv) Methode Electronics had fallen substantially behind on the launch of new EV programs out of its Monterrey facility, preventing Methode Electronics from timely receiving revenue from new EV program awards; and (v) as a result, Methode Electronics was not on track to achieve the 2023 diluted earnings-per-share guidance or the 3-year 6% organic sales compound annual growth rate represented to investors and such estimates lacked a reasonable factual basis.
Current Methode Electronics shareholders who have held Methode Electronics stock since prior to June 23, 2022, can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to them whatsoever.
If you would like to learn more about this matter, you are encouraged to visit https://grabarlaw.com/the-latest/methode-shareholder-investigation/, contact Joshua Grabar at [email protected], or call 267-507-6085.
Equinix, Inc. (NASDAQ: EQIX):
Grabar Law Office is investigating claims on behalf of Equinix, Inc. (NASDAQ: EQIX) shareholders. The investigation concerns whether certain officers of Equinix have breached the fiduciary duties they owed to the company.
If you have held Equinix, Inc. (NASDAQ: EQIX) shares since prior to
May 3, 2019
, and would like to learn more about the investigation, your rights, and your potential for recovery at no cost to you, please visit
https://grabarlaw.com/the-latest/Equinix-Investigation/
, contact Joshua Grabar at
[email protected]
or call 267-507-6085. You do not need to have lost money on your investment to participate.
WHY: A recently filed federal securities fraud class action complaint against Equinix, Inc. (NASDAQ: EQIX) and certain of its officers has survived Defendants’ motion to dismiss the complaint. Grabar Law Office is investigating whether officers and directors of Equinix, Inc. have breached their fiduciary duties owed to the company.
The underlying complaint alleges that Equinix, via certain of its officers and directors, made materially false and/or misleading statements and/or failed to disclose that: (1) Equinix manipulated its financials to reduce operational expenses and boost Adjusted Funds From Operations (“AFFO”); (2) Equinix oversold power capacity and did not warn of the risks associated with this practice; (3) Equinix lacked adequate internal controls; and (4) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.
In denying the Defendants’ motion to dismiss the Court found:
In all, the complaint raises a strong inference that Equinix misclassified routine recurring capital purchases—like chillers, batteries, and lightbulbs—as non-recurring to artificially inflate its AFFO numbers in a way that misled investors.
The Court further found that under a holistic view of the allegations, the complaint has created a strong inference of scienter – i.e. the intent or knowledge of wrongdoing, at the time of the alleged fraudulent activity.
WHAT YOU CAN DO NOW: Current Equinix shareholders who have held Equinix shares since on or before May 3, 2019, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them whatsoever.
If you
would like to learn more about this matter, you are encouraged to
visit
https://grabarlaw.com/the-latest/Equinix-Investigation/
, contact Joshua Grabar at
[email protected]
or call us at 267-507-6085.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/095e26b5-da04-4598-8413-8cb47e60a6a7
