Coty receives class action lawsuit

A law office recently announced that it filed a class action lawsuit against a beauty product manufacturer.

Gainey McKenna and Egleston filed litigation in the U.S. District Court for the Southern District of New York against Coty, Inc. This was due to a filing with the U.S. Securities and Exchange Commission on May 28, 2013, as well as a separate filing on June, 13, 2013.

Shareholders brought forth the allegations that the company was in violation of Sections 11, 12(a)(2) and 15 of the Securities Act of 1933. This was due to the company's registration statement allegedly leaving out or falsifying facts that may have prevented the company from holding a reliable IPO. Approximately 57 million shares were issued during the offering, and these were priced at $17.50 per share.

It is possible for shareholders to become lead plaintiff in this case, but that must be done by April 14, 2014. In order to do this, it is important to file the correct paperwork with the court, and be approved for the position.

Shareholders can also speak with the law firm in order to get more information. This can include how a person's rights and interests are affected by the deal, as well as other related details. Both Thomas McKenna and Gregory Egleston are available to be reached by telephone or email.

Second lawsuit underway
Another law office explained that it filed a lawsuit against Coty in the same court due to many of the aforementioned reasons.

Law firm Levi and Korsinsky, LLP, noted that the class action claim is due to the board of director's registration statement allegedly having errors, thus hurting shareholders during the IPO.

It is possible for shareholders to speak with the law firm about the lead plaintiff position, as well as other issues related to the case. Those who own interests in Coty do not need to apply to the lead plaintiff role in order to collect in the event of a financial return.

For shareholders who are looking for more information about the lawsuit itself, especially regarding how it will effect them, the law office will field questions. Joseph Levi is the best contact, and he can be reached by telephone or email. It is also an option to visit the law office's website to gain more information.