ONGOING DEADLINE ALERT: Faruqi & Faruqi, LLP investigates claims on behalf of Oddity investors

James (Josh) Wilson, securities litigation partner at Faruqi & Faruqi, LLP, encourages investors who have suffered losses in excess of $50,000 to contact him directly to discuss their options

If you have incurred losses exceeding $50,000 on investments in Oddity stock or options between July 19, 2023 and May 20, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi Partner Josh Wilson direct at 877-247-4292 or 212-983-9330 (extension 1310). For more information you can also click here: www.faruqilaw.com/ODD.

New York, New York–(Newsfile Corp. – July 28, 2024) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Oddity Tech Ltd. (“Oddity” or the “Company”) (NASDAQ: ODD) and reminds investors of the Deadline: 17 September 2024 to serve as lead plaintiff in a federal securities class action lawsuit filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. Since its founding in 1995, the firm has recovered hundreds of millions of dollars for investors. See www.faruqilaw.com.

As set forth in detail below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Oddity exaggerated its AI technology and capabilities and/or the extent to which such technology increased the Company’s revenue; (2) Oddity’s repurchase rates and revenue were due, at least in part, to unsustainable and deceptive sales and advertising practices; (3) Oddity downplayed the true scope and severity of ongoing civil litigation against the Company and/or its subsidiaries; and (4) as a result, Oddity’s public statements were materially false and misleading at all relevant times.

On May 21, 2024, NINGI Research (“Ningi”) published a report (the “Ningi Report”) on Oddity alleging that the company “completely misled investors about every critical aspect of its business(.)”. Specifically, the Ningi Report alleged, among other things, that Ningi “spoke to former employees who told (Ningi) that (the company’s) AI was nothing more than a questionnaire”; that Oddity’s vaunted “repeat purchase rates” were due to “customers unknowingly entering into non-cancelable plans” that allow the company to “record repeat purchases in subsequent quarters even though customers do not want the product”; and that Ningi found “hundreds of undisclosed lawsuits against ODDITY and its subsidiaries in the United States and Israel, frequently alleging unpaid bills and violations of consumer protection laws”, including several class action lawsuits filed in recent years.

On this news, the price of Oddity’s Class A common stock fell $3.02 per share, or 7.37%, to close at $37.97 per share on May 21, 2024. Over the following two consecutive trading days, the price of Oddity’s Class A common stock continued to fall an additional $1.30 per share, or 3.42%, to close at $36.67 per share on May 23, 2024.

The court-appointed lead plaintiff will be the investor with the greatest financial interest in the relief sought by the class, who is reasonable and typical of class members, and who will direct and oversee the litigation on behalf of the putative class. Any member of the putative class may, through counsel of his or her choosing, ask the court to serve as lead plaintiff, or he or she may choose to do nothing and remain an absent class member. Your ability to share in any relief will not be affected by your decision to serve as lead plaintiff.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Sonder’s conduct, including whistleblowers, former employees, shareholders and others, to contact the firm.

Follow us for updates on LinkedIn, on X or on Facebook.

Attorney Advertising. The law firm responsible for this advertising is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or predict a similar outcome with respect to future cases. We welcome the opportunity to discuss your specific case. All communications will be kept confidential.

To view the original version of this press release, please visit https://www.newsfilecorp.com/release/217869.