GRABAR LAW OFFICE INVESTIGATES POTENTIAL SHAREHOLDER ACTION ON BEHALF OF SHAREHOLDERS OF COTY INC. (NYSE: COTY)
It is alleged that Coty Inc.’s officers and directors repeatedly misrepresented the material difficulties they encountered integrating Coty’s $11.5 billion purchase of Proctor & Gamble Company’s (“P&G”) Beauty Business. While these integrations issues were repeatedly described as “temporary” or “short-term” and despite consistently touting Coty’s digital and e-commerce marketing abilities as key to revitalizing the P&G beauty brands, the Company’s digital and e-commerce marketing abilities were well below industry practices, and insufficient to boost sales of the P&G brands materially. Ultimately, these integration issues caused Coty to impair $4 billion in goodwill and intangible assets from the P&G beauty business. Defendants’ false and misleading statements caused substantial investor losses and great harm to the company.
Current Coty shareholders who have held shares of the Company’s stock since at least October 3, 2016 have standing to seek corporate governance reforms, the return of funds back to company coffers and potentially a court approved incentive award if appropriate at no cost. $COTY
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