NEW YORK, Aug 1, 2024 - (NewMediaWire) - Kaplan Fox & Kilsheimer LLP reminds investors that a complaint has been filed on behalf of investors that purchased ODDITY Tech Ltd. (“ODDITY” or the “Company”) (NASDAQ: ODD) common stock between July 19, 2023 and May 20, 2024 (the “Class Period”).

CLICK HERE TO JOIN THE CASE

If you are an investor in ODDITY and have suffered losses, you may click here to contact us. You may also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.

DEADLINE REMINDER:  If you are a member of the proposed Class, you may move the court no later than September 17, 2024 to serve as a lead plaintiff for the purported class.  If you have losses we encourage you to contact us to learn more about the lead plaintiff process.

ODDITY operates as an international consumer technology company for the beauty and wellness industries that, according to the complaint, defendants portrayed as a disruptor in the cosmetics industry due to the Company’s proprietary AI-driven online platform.

On May 21, 2024, a report was published by NINGI Research (“Ningi”) alleging that the Company “completely misled investors about every critical aspect of its business[.]”  The report also alleges that Ningi talked to former employees who told them that the “AI is nothing but a questionnaire.”

On this news, the price of ODDITY shares fell $3.02 per share, over 7%, from a close price of $40.99 per share on May 20, 2024 to close at $37.97 on May 21, 2024.

According to the complaint, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) ODDITY overstated its AI technology and capabilities, and/or the extent to which this technology drove the Company’s sales; (2) ODDITY’s repeat purchase rates and revenues were, at least in part, derived from unsustainable and deceptive sales and advertising practices; (3) ODDITY downplayed the true scope and severity of ongoing civil litigation against the Company and/or its subsidiaries; and (4) as a result, ODDITY’s public statements were materially false and misleading at all relevant times.

WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey.  With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand.  Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients.  For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

If you have any questions about this investigation, please contact:

Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
E-mail: pmayer@kaplanfox.com  

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax:  (415) 772-4707
E-mail: lking@kaplanfox.com 

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