An investigation on behalf of current long term investors in Coty Inc (NYSE:COTY) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NYSE:COTY stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/24/2016 -- An investigation for shareholders in Coty Inc (NYSE:COTY) concerning potential breaches of fiduciary duties by certain directors of Coty was announced.
Investors who are current long term investors in Coty Inc (NYSE:COTY) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NYSE:COTY stocks follows a lawsuit pending against Coty Inc over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE:COTY stocks, concerns whether certain Coty officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges that the defendants violated Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 because the Registration Statement contained untrue statements of material facts or omitted to state material facts necessary to make the statements made not misleading, and was not prepared in accordance with the applicable SEC rules and regulations governing its preparation.
On September 17, 2013 Coty issued its first financial results as a public company, reporting the Company's fourth quarter and fiscal year 2013 financial results for the period ending June 30, 2013. Coty Inc (NYSE:COTY) reported that its Total Revenue increased from over $4.61 billion for the 12 months period that ended on June 30, 2012, to over $4.64 billion for the 12 months period that ended on June 30, 2013, and that its Net loss of $324.40 million for the 12 months period that ended on June 30, 2012 turned into a Net Income of $168.00 million for the 12 months period that ended on June 30, 2013. In Coty's September 17, 2013 press release the Company stated that "over the past few months the Company has seen a deceleration of market growth in the U.S. and Europe, triggering significant destocking activity, particularly by U.S. mass retailers." Further, the Company said it expects a marginal decline in revenues in the first quarter of fiscal 2014.
Those who purchased shares of Coty Inc (NYSE:COTY) have certain options and should contact the Shareholders Foundation.
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