SKIN - Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against The Beauty Health Company (SKIN) | Benzinga
NEW YORK, Nov. 17, 2023 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of all persons or entities who purchased or otherwise acquired The Beauty Health Company ("Beauty Health" or the "Company") (NASDAQ:SKIN) securities between May 10, 2022 and November 13, 2023, inclusive (the "Class Period"). The lawsuit seeks to recover damages for the Company's investors under the federal securities laws.
The Complaint in the class action alleges that 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 Complaint also alleges that the Company also announced the "involuntary separation without cause" of Chief Financial Officer ("CFO") Liyuan Woo.
The Complaint further alleges that on this news, the Company's shares fell $0.41, or 5.4%, to close ...
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