DENVER--(BUSINESS WIRE)--The Shuman Law Firm announces that it is investigating potential shareholder claims against certain officers and directors of Ulta Beauty, Inc. (“Ulta” or the “Company”) (Nasdaq: ULTA). Ulta is a beauty retailer.
The Firm’s investigation relates to allegations found in a consumer class action lawsuit against the Company which alleges a wide ranging scheme of repackaging and reselling returned, previously used products as new products in Ulta stores. The lawsuit specifically alleges that “dozens of…Ulta employees from retail locations all over the country confirmed that substantially similar practices also occurred at the Ulta stores where they worked.” On February 23, 2018, CBS News published a story on its website entitled “Former Ulta Beauty employee says she felt pressured to resell used products.” The CBS story reports on the claims that used products were cleaned and repackaged because “higher-level managers pressured the stores to keep the dollar amount for damaged or returned goods down.” These actions allegedly occurred despite Ulta’s “Returned Merchandise Policy” which clearly prohibited the resale of used, damaged or expired products. The Company’s stock price fell more than 10% following the revelation of these events.
If you currently own Ulta Beauty common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 569-4531 or email Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com.
The Shuman Law Firm represents investors throughout the nation, concentrating its practice in stockholder litigation.