We are investigating Coty Inc. (COTY) (“Coty” or the “Company”) for potential violations of the federal securities laws.
In November 2019, Coty announced its acquisition of a majority stake in Kylie Cosmetics. Then, on May 29, 2020, Forbes reported that Kylie Jenner, the founder of Kylie Cosmetics, had provided the magazine with misleading financial information about her company. On this news, Coty’s stock price fell $0.56 per share, or 13.4%, to close at $3.63 per share on May 29, 2020.