HNST Investors Have Opportunity to Lead The Honest Company, Inc. Securities Lawsuit
The law firm Glancy Prongay & Murray LLP has announced that investors who suffered significant losses have the opportunity to lead a securities fraud class action lawsuit against The Honest Company (HNST). The lawsuit focuses on the period following the Company's IPO in May 2021 and highlights allegations of failure to disclose critical information regarding financial impacts from COVID-19 stock-ups and decelerating demand for key products. The deadline for lead plaintiff submissions is November 15, 2021.
- None.
- Allegations of misleading statements regarding the Company's financial conditions during the IPO.
- Failure to disclose that demand for key products was declining prior to the IPO.
- Potential adverse impacts on financial results due to reduced demand.
LOS ANGELES, Oct. 12, 2021 /PRNewswire/ -- Glancy Prongay & Murray LLP ("GPM") announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against The Honest Company, Inc. ("Honest" or the "Company") (NASDAQ: HNST).
Relevant Period: May 2021 IPO
Lead Plaintiff Deadline: November 15, 2021
If you wish to serve as lead plaintiff of the Honest lawsuit, you can submit your contact information at https://www.glancylaw.com/cases/the-honest-company-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.
The complaint alleges that Defendants failed to disclose: (1) that, prior to the IPO, the Company's results had been significantly impacted by a multimillion-dollar COVID-19 stock-up for products in the Diapers and Wipes category and Household and Wellness category; (2) that, at the time of the IPO, the Company was experiencing decelerating demand for such products; (3) that, as a result, the Company's financial results would likely be adversely impacted; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
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To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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SOURCE Glancy Prongay & Murray LLP
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