The Law Offices of Frank R. Cruz announces an investigation of Waldencast plc (“Waldencast” or the “Company”) (NASDAQ: WALD, WALDW) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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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.
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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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to email@example.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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