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Following a short seller’s allegation that E.l.f. Beauty overstated its revenue in earnings reports, a class-action lawsuit has been filed on behalf of shareholders.
Filed Mar. 6, the case Rottman v. E.l.f. Beauty, Inc. et al accuses the company, CEO Tarang Amin and CFO Mandy Fields of reporting “inflated revenue, profits, and inventory over several quarters.” Court documents cite a November 2024 report by short seller investment firm Muddy Waters arguing that inventory import levels…
