| COMPANY |
Ulta Beauty, Inc. |
| COURT |
United States District Court for the Northern District of Illinois |
| CASE NUMBER |
18-cv-01577 |
| JUDGE |
The Honorable Martha Maria Pacold |
| CLASS PERIOD |
4/20/2016 – 2/23/2018 |
| SECURITY TYPE |
All Securities |
Case Background:
On March 2, 2018, the initial complaint in this securities class action was filed against Ulta Beauty, Inc. (“Ulta” or the “Company”), and certain of Ulta’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action lawsuit brought on behalf of all persons who purchased or otherwise acquired securities of Ulta and its wholly owned subsidiary, Ulta Salon, Cosmetics, Fragrance, Inc. between April 20, 2016 and February 23, 2018, both dates inclusive (the “Class Period”).
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding Ulta's business, operations and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company was engaged in the widespread practice of repackaging returned cosmetics and re-shelving them alongside unblemished products to sell at full retail price; and (2) that as a result of the foregoing, Ulta's public statements were materially false and misleading at all relevant times.
Current Status of Case:
On September 10, 2018, Lead Plaintiffs filed an amended complaint (the “Amended Complaint”). On November 9, 2018, Defendants filed a Motion to Dismiss the Amended Complaint. On March 30, 2022, the Court granted Defendants’ Motion to Dismiss, and Lead Plaintiffs were granted leave to file an amended complaint by May 5, 2022. Lead Plaintiffs did not file an amended complaint by that date, and on May 12, 2022, the Court issued an Order terminating the case and entered Final Judgment in favor of Defendants. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.