NEW YORK, NY - 
(NewMediaWire) - July 31, 2024 - Kaplan Fox & Kilsheimer LLP reminds investors that a complaint has been filed on behalf of investors that purchased ODDITY Tech Ltd. (“ODDITY” or the “Company”) (NASDAQ: ODD) common stock between July 19, 2023 and May 20, 2024 (the “Class Period”).
If you are an investor in ODDITY and have suffered losses, you may click here to contact us. You may also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.
ODDITY operates as an international consumer technology company for the beauty and wellness industries that, according to the complaint, defendants portrayed as a disruptor in the cosmetics industry due to the Company’s proprietary AI-driven online platform.
On May 21, 2024, a report was published by NINGI Research (“Ningi”) alleging that the Company “completely misled investors about every critical aspect of its business[.]” The report also alleges that Ningi talked to former employees who told them that the “AI is nothing but a questionnaire.”
On this news, the price of ODDITY shares fell $3.02 per share, over 7%, from a close price of $40.99 per share on May 20, 2024 to close at $37.97 on May 21, 2024.
According to the complaint, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) ODDITY overstated its AI technology and capabilities, and/or the extent to which this technology drove the Company’s sales; (2) ODDITY’s repeat purchase rates and revenues were, at least in part, derived from 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.
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If you have any questions about this Notice, your rights, or your interests, please contact:
Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
E-mail: pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
