SAN FRANCISCO, Jan. 13, 2023 (GLOBE NEWSWIRE) — Hagens Berman is urging Olaplex Holdings, Inc. OLPX Investors who have suffered significant losses Submit your losses now.

Defined class: Buyers in Olaplex Holdings IPO on September 30, 2021
Deadline for lead plaintiff: January 17, 2023
Visit: www.hbsslaw.com/investor-fraud/OLPX
Contact a lawyer now: OLPX@hbsslaw.com
844-916-0895

Olaplex Holdings, Inc. OLPX Securities Class Action:

The class action lawsuit was filed on behalf of investors who acquired Olaplex stock in connection with, or attributable to, the Company’s initial public offering (“IPO”) on September 30, 2021.

In particular, Olaplex’s IPO documents touted its competitive advantages and several significant tailwinds.

According to the complaint, Olaplex’s IPO documents misrepresented and failed to disclose the following: (1) macroeconomic pressures and competition in the hair care market were more resilient than the represented company; (2) accordingly, the company was unlikely to maintain sales and revenue momentum; and (3) as a result, it was unlikely that the Company would be able to achieve the financial and operational growth projected in its offering documents.

Investors began learning the truth on September 29, 2022 when Piper Sandler published a negative report on Olaplex, in which the analyst said “competition and misinformation pose growing risks to the company” and that she believed investments in marketing and education would be needed to offset the headwinds.

Then, on October 18, 2022, Olaplex announced that it had cut its fiscal 2022 revenue guidance. The company blamed “a slowdown in sales momentum.”[d] to macroeconomic pressures, increased competitive activity, including discounting, and a moderation in new customer acquisition and inventory rebalancing among certain customers[.]”

This news sent Olaplex shares down over 56% on October 19, 2022 to close at $4.24 or almost 80% below the…