e.l.f. Beauty Is Now Under Investigation by Johnson Fistel on Behalf of Shareholders Who Incurred Losses on Their Investment

Johnson Fistel, LLP is investigating whether e.l.f. Beauty, Inc. (NYSE: ELF) or any of its executive officers violated securities laws by misrepresenting or failing to timely disclose material information to investors.

On November 20, 2024, Muddy Waters Research issued a report regarding e.l.f. Beauty. The report states that “Muddy Waters is short e.l.f. Beauty, Inc. (ELF) because we believe it has materially overstated revenue over the past three quarters – possibly by ~$135 million to ~$190 million. We believe that in Q2 FY24, ELF management realized its growth narrative was in trouble as its inventory built. It appears that ELF then began reporting inflated revenue and profits. Its reported inventory also appears materially inflated as a result – i.e., to account for cash that has not really come in.”

What if I purchased E.L.F. securities? If you purchased securities and suffered losses on your investment, join our investigation now:

If you suffered a loss on your investment and would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below. The information provided will be held in strict confidence unless and until you authorize us to disclose it.Name(Required) First Last Email(Required) Phone(Required)Estimated range of Losses(Required)$0 – $10,000$10,001 – $25,000$25,001 – $100,000$100,001 – $250,000$250,001 +Where did you see our press release?(Required)Search EngineBrokerage FirmJohnson Fistel's WebsiteNews WebsiteSocial MediaWord of MouthAssociated PressOtherIf you selected 'Other' above, please specify below:(Required)Would you like to receive future case and securities updates from Johnson Fistel, LLP via email?(Required) Yes No Would you like to receive information about Johnson Fistel, LLP's free portfolio monitoring service?(Required) Yes No By checking the box, I acknowledge that this form is not intended to and does not establish an attorney-client relationship between myself and Johnson Fistel, LLP, and that submission to or receipt of information from the firm or one of its attorneys via this form, website, email, or telephone does not create an attorney-client relationship.(Required) I Agree gform.initializeOnLoaded( function() {gformInitSpinner( 251, 'https://www.johnsonfistel.com/wp-content/plugins/gravityforms/images/spinner.svg', true );jQuery('#gform_ajax_frame_251').on('load',function(){var contents = jQuery(this).contents().find('*').html();var is_postback = contents.indexOf('GF_AJAX_POSTBACK') >= 0;if(!is_postback){return;}var form_content = jQuery(this).contents().find('#gform_wrapper_251');var is_confirmation = jQuery(this).contents().find('#gform_confirmation_wrapper_251').length > 0;var is_redirect = contents.indexOf('gformRedirect(){') >= 0;var is_form = form_content.length > 0 && ! is_redirect && ! is_confirmation;var mt = parseInt(jQuery('html').css('margin-top'), 10) + parseInt(jQuery('body').css('margin-top'), 10) + 100;if(is_form){form_content.find('form').css('opacity', 0);jQuery('#gform_wrapper_251').html(form_content.html());if(form_content.hasClass('gform_validation_error')){jQuery('#gform_wrapper_251').addClass('gform_validation_error');} else {jQuery('#gform_wrapper_251').removeClass('gform_validation_error');}setTimeout( function() { /* delay the scroll by 50 milliseconds to fix a bug in chrome */ }, 50 );if(window['gformInitDatepicker']) {gformInitDatepicker();}if(window['gformInitPriceFields']) {gformInitPriceFields();}var current_page = jQuery('#gform_source_page_number_251').val();gformInitSpinner( 251, 'https://www.johnsonfistel.com/wp-content/plugins/gravityforms/images/spinner.svg', true );jQuery(document).trigger('gform_page_loaded', [251, current_page]);window['gf_submitting_251'] = false;}else if(!is_redirect){var confirmation_content = jQuery(this).contents().find('.GF_AJAX_POSTBACK').html();if(!confirmation_content){confirmation_content = contents;}jQuery('#gform_wrapper_251').replaceWith(confirmation_content);jQuery(document).trigger('gform_confirmation_loaded', [251]);window['gf_submitting_251'] = false;wp.a11y.speak(jQuery('#gform_confirmation_message_251').text());}else{jQuery('#gform_251').append(contents);if(window['gformRedirect']) {gformRedirect();}}jQuery(document).trigger("gform_pre_post_render", [{ formId: "251", currentPage: "current_page", abort: function() { this.preventDefault(); } }]); if (event && event.defaultPrevented) { return; } const gformWrapperDiv = document.getElementById( "gform_wrapper_251" ); if ( gformWrapperDiv ) { const visibilitySpan = document.createElement( "span" ); visibilitySpan.id = "gform_visibility_test_251"; gformWrapperDiv.insertAdjacentElement( "afterend", visibilitySpan ); } const visibilityTestDiv = document.getElementById( "gform_visibility_test_251" ); let postRenderFired = false; function triggerPostRender() { if ( postRenderFired ) { return; } postRenderFired = true; gform.core.triggerPostRenderEvents( 251, current_page ); if ( visibilityTestDiv ) { visibilityTestDiv.parentNode.removeChild( visibilityTestDiv ); } } function debounce( func, wait, immediate ) { var timeout; return function() { var context = this, args = arguments; var later = function() { timeout = null; if ( !immediate ) func.apply( context, args ); }; var callNow = immediate && !timeout; clearTimeout( timeout ); timeout = setTimeout( later, wait ); if ( callNow ) func.apply( context, args ); }; } const debouncedTriggerPostRender = debounce( function() { triggerPostRender(); }, 200 ); if ( visibilityTestDiv && visibilityTestDiv.offsetParent === null ) { const observer = new MutationObserver( ( mutations ) => { mutations.forEach( ( mutation ) => { if ( mutation.type === 'attributes' && visibilityTestDiv.offsetParent !== null ) { debouncedTriggerPostRender(); observer.disconnect(); } }); }); observer.observe( document.body, { attributes: true, childList: false, subtree: true, attributeFilter: [ 'style', 'class' ], }); } else { triggerPostRender(); } } );} );

Or for more information, contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471. There is no cost or obligation to you.

What if I have relevant nonpublic information? Individuals with nonpublic information regarding the company should consider whether to assist our investigation or take advantage of the SEC Whistleblower program. Under the SEC program, whistleblowers who provide original information may, under certain circumstances, receive rewards totaling up to thirty percent of any successful recovery made by the SEC. For more information, contact Jim Baker at (619) 814-4471 or jimb@johnsonfistel.com.