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NEW YORK, Nov. 18, 2022 (GLOBE NEWSWIRE) — Bernstein Liebhard LLP announces that on behalf of investors who own the common stock of Olaplex Holdings, Inc. (“Olaplex” or the “Company”) OLPX pursuant to and/or traceable to the Company’s initial public offering conducted on or about September 30, 2021 (the “IPO” or the “Offering”). The lawsuit was filed in the United States District Court for the Central District of California alleging violations of the Securities Act of 1933.

Olaplex manufactures and sells hair care products. The Company offers hair care shampoos and conditioners for use in treating, caring for and protecting hair. Olaplex purports to participate in the “prestige segment” of the hair care market, which the company claims is “expected to be the fastest growing segment of the global hair care market from 2020 to 2025.”

On August 27, 2021, Olaplex filed a registration statement on Form S-1 with the SEC in connection with the IPO, which, after several amendments, was declared effective by the SEC on September 29, 2021 (the “Registration Statement”). On October 1, 2021, Olaplex filed a prospectus on Form 424B4 with the SEC in connection with the IPO, which included and formed a part of the registration statement (collectively, the “Offering Documents”).

Pursuant to the IPO, Olaplex issued 73,700,000 shares of its common stock to the public at an offering price of $21 per share, raising approximate proceeds for the Company of $1,466,445,750, net of applicable subscription discounts and commissions.

The offer documents were prepared negligently and as a result contained false information about material facts or failed to state other facts necessary to …