Ulta Beauty 'used make-up' accusations investigated by law firm

Published: 1-Mar-2018

Pomerantz is investigating whether Ulta and any of its employees have engaged in unlawful business practices

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A law firm is investigating whether Ulta Beauty has engaged in unlawful business practices, after the US retailer was accused of reselling used make-up in-store.

Pomerantz Law Firm, which regularly represents the victims of corporate misconduct, is investigating the claims on behalf of Ulta Beauty investors.

It said the investigation concerns whether Ulta and certain officers or directors have engaged in securities fraud or other unlawful business practices.

It is encouraging investors to join a class action, following a knock to Ulta's share price after media reports at the start of the year.

On 9 February a consumer class action lawsuit was filed against Ulta alleging that the company engaged in the "widespread and surreptitious" practice of repacking returned cosmetics and re-selling them in-store at full price.

Ulta's share price suffered, falling $9.07 or 4.15% to close at $209.48 on 12 February.

It continued to fall as more media reports surfaced, plummeting to $198.93 on 26 February.

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