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ODDITY TECH SHAREHOLDER ALERT: CLAIMSFILER REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against ODDITY Tech Ltd. - ODD
TECHBio-Techne(TECH) GlobeNewswire News Room·2024-07-25 02:23

Core Viewpoint - Oddity Tech Ltd. and certain executives are facing charges for failing to disclose material information during the Class Period, which is a violation of federal securities laws [1]. Group 1: Legal Proceedings - Investors have until September 17, 2024, to file lead plaintiff applications in a securities class action lawsuit against Oddity, covering purchases made between July 19, 2023, and May 20, 2024 [2]. - The lawsuit is currently pending in the United States District Court for the Eastern District of New York [2]. - The case is identified as Hoare v. Oddity Tech Ltd., et al., 24-cv-05037 [5]. Group 2: Allegations Against Oddity - NINGI Research reported multiple allegations against Oddity, claiming the company misled investors about critical aspects of its business [4]. - Allegations include that Oddity's AI is merely a questionnaire and that its reported "repeat purchase rates" are due to customers unknowingly entering non-cancelable plans [4]. - NINGI also found numerous undisclosed lawsuits against Oddity and its subsidiaries in the US and Israel, often related to unpaid bills and consumer protection law violations [4]. Group 3: Market Reaction - Following the news of the allegations, Oddity's share price dropped by 3.02,or7.373.02, or 7.37%, closing at 37.97 per share on May 21, 2024 [7].