The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of investors who purchased The Honest Company, Inc. (NASDAQ: HNST) pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company’s May 2021 initial public offering.
According to the The Honest Company lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) prior to the Initial Public Offering (“IPO”), the Company’s results had been significantly impacted by a multimillion-dollar COVID-19 stock-up for products in the Diapers and Wipes category and Household and Wellness category; (2) at the time of the IPO, the Company was experiencing decelerating demand for such products; (3) as a result, the Company’s financial results would likely be adversely impacted; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
If you suffered a loss in The Honest Company you have until November 15, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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