Sign In
Step 1
Unite with Fellow Investors
Step 2
Choose the Best Attorney
Step 3
Provide Documents
Step 4
Follow Case Progress
Step 5
Get Payout
SKIN.US
id: 874

Beauty Health (SKIN) Syndeo Devices Case

C.D. California
Court
2:23-cv-09733
Case number
10 May 2022
Class period Start
13 Nov 2023
Class period End
15 Jan 2024
Lead Plaintiff motion deadline
  • Beauty Health allegedly misled investors about its issues with Syndeo devices, including frequent treatment interruptions and the ongoing problems despite costly enhancements.
  • On November 14, 2023, the truth came out, leading to a 64% $SKIN fall the next day.
Beauty Health faced challenges in Q2 2023, with lower gross margins due to a shift to lower-margin refurbished devices and the CFO's departure.

In Q3, the company reported lower-than-expected U.S. revenue and restructuring charges. Beauty Health also disclosed that CEO was leaving the company in November.

This news caused $SKIN fall by 64% and $329.48M loss of market cap, damaging shareholders.

The lawsuit alleges that Beauty Health and its executives failed to disclose issues with Syndeo devices, resulting in treatment interruptions and profitability impact.
Alleged Offence
Mismanagement
Misleading Statements
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
14 November 2023
Filing date
16 November 2023
Lead Plaintiff Deadline
15 January 2024
Judge
Maria A Audero
Collecting participants…

Beauty Health Co

The Beauty Health Company designs, develops, manufactures, markets, and sells aesthetic technologies and products worldwide. The company's flagship product includes HydraFacial that enhance the ski...

    Ticker
    SKIN.US
    ISIN
    US88331L1089
    CIK
    1818093
    Sector
    Consumer Defensive
    Industry
    Household & Personal Products
    Country
    USA
    Address
    2165 Spring Street, Long Beach, CA, United States, 90806