According to the lawsuit, throughout the Class Period the defendants made misleading and/or false statements and/or failed to disclose to investors that: (1) Coty did not have adequate processes and procedures in place to assess and properly value the P&G Specialty Beauty Business and Kylie Cosmetics acquisitions, despite being no stranger to beauty brand acquisitions; (2) Coty had overpaid for the P&G Specialty Beauty Business and Kylie Cosmetics as a result,; (3) Coty did not have the infrastructure necessary to support and smoothly integrate the beauty brands that it acquired from P&G, including an adequate supply chain; (4) Coty was not successfully integrating the beauty brands it acquired from P&G and not delivering synergies from the acquisition as a result of its inadequate infrastructure; and (5) Coty’s financial statements and defendants’ statements about Coty’s business, operations, and prospects, were materially false and/or misleading at all relevant times, as a result of the foregoing. When the true details were made known to the market, the lawsuit claims that investors suffered damages.
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