Law Offices of Howard G. Smith announces an investigation on behalf of Waldencast plc (“Waldencast” or the “Company”) (NASDAQ: WALD, WALDW) investors concerning the Company’s possible violations of federal securities laws.
On July 5, 2023, Waldencast disclosed that certain previously issued financial statements of Obagi Global Holdings Limited (“Obagi”) should no longer be relied upon because the Company discovered errors related to revenue recognition in connection with Obagi’s sales activity to its Southeast Asia distributor during the second half of fiscal year 2022 and marketing and other services purportedly performed by certain of Obagi’s distributors.
On this news, Waldencast’s stock price fell $0.76, or 10.2%, to close at $6.63 on July 6, 2023, thereby injuring investors.
If you purchased Waldencast securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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