SKIN - BEAUTY HEALTH ALERT: Bragar Eagel & Squire P.C. is Investigating The Beauty Health Company on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, Feb. 09, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against The Beauty Health Company (NASDAQ:SKIN) on behalf of long-term stockholders following a class action complaint that was filed against Beauty Health on November 16, 2023 with a Class Period from May 10, 2022 to November 13, 2023. Our investigation concerns whether the board of directors of Beauty Health have breached their fiduciary duties to the company.
On August 9, 2023, before the market opened, Beauty Health announced that second quarter 2023 gross margin was "unfavorably impacted" by a mix shift "toward lower-margin refurbished devices . . . as U.S. providers awaited Syndeo enhancements in the third quarter 2023 to improve user experience." The Company also announced the "involuntary separation without cause" of Chief Financial Officer ("CFO") Liyuan Woo.
On this news, the Company's shares fell $0.41, or 5.4%, to close at $7.12 per share on August 9, 2023, on unusually heavy trading volume.
Then, on November 13, 2023, after the market closed, Beauty Health announced its financial results for the ...