Coty, Inc.

Garrett-Evans v. Coty Inc., et al., No. 20-cv-7277 (S.D.N.Y.)

Over the last several years, Coty, an international beauty company, has engaged in multiple mergers and acquisitions. In October 2016, Coty announced a merger with The Proctor & Gamble Company’s specialty beauty business for $12.5 billion. Yet by July 2019, Coty announced the write down of about $3 billion in value of brands acquired from Proctor & Gamble as part of a four-year restructuring plan. On this news, Coty’s stock price fell approximately 14%. Then on November 18, 2019, Coty announced that it was acquiring a 51% majority stake in Kylie Jenner’s Kylie Cosmetics line for another $600 million. However, on May 29,2020, Forbes reported that Ms. Jenner “has been inflating the size and success of her business. For years.” On this news, Coty’s price approximately 13%.

Lead Plaintiff deadline
November 3, 2020
class period
October 3, 2016
May 28, 2020
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