AN AUTHORITATIVE SYNOPSIS OF THE BEAUTY HEALTH CLASS ACTION LAWSUIT

If you suffered losses in Beauty Health stock, contact Beauty Health stock loss lawyer Timothy L. Miles about a Beauty Health class action lawsuit

introduction to the THE BEAUTY HEALTH CLASS ACTION LAWSUIT

Call a Beauty Health stock loss lawyer about a Beauty Health class action lawsuit

​​The Beauty Health class action lawsuit seeks to represent purchasers or acquirers of The Beauty Health Company (NASDAQ: SKIN) securities between May 10, 2022 and November 13, 2023, inclusive (the “Class Period”).  Captioned Alghazwi v. The Beauty Health Company, No. 23-cv-09733 (C.D. Cal.), the Beauty Health class action lawsuit charges Beauty Health and certain of its top current and former executive officers with violations of the​​ Securities Exchange Act of 1934.
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If you suffered losses in Beauty Health stock and wish to serve as lead plaintiff in the Beauty Health class action lawsuit, please contact Beauty Health Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form. Lead plaintiff motions for the Beauty Health class action lawsuit must be filed with the court no later than January 16, 2024.

In this authoritative synopsis, we will discuss everything a Beauty Health investor needs to know about the Beauty Health class action lawsuit.

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ALLEGATIONS IN THE BEAUTY HEALTH CLASS ACTION LAWSUIT

Beauty Health is a health and beauty company which provides “skin health experiences.”

The Beauty Health class action lawsuit alleges that defendants throughout the Class Period failed to disclose that: (i) Syndeo 1.0 and 2.0 devices had issues leading to “frequent treatment interruptions”; (ii) as a result, Beauty Health incurred significant costs to develop enhancements; (iii) despite the enhancements, providers continued to experience issues with the Syndeo devices; (iv) consequently, Beauty Health would no longer market Syndeo 1.0 and 2.0 devices and incur significant inventory write-downs; and (v) as such, Beauty Health’s profitability would be adversely impacted.

The Beauty Health class action lawsuit further alleges that on August 9, 2023, Beauty Health announced that its second quarter of 2023 gross margin was “unfavorably impacted” by a mix shift “toward lower-margin refurbished devices . . . as U.S. providers awaited Syndeo enhancements in the third quarter [of] 2023 to improve user experience.”  Beauty Health also announced the “involuntary separation without cause” of Beauty Health’s Chief Financial Officer, defendant Liyuan Woo, the Beauty Health class action lawsuit also alleges.  On this news, the price of Beauty Health shares fell by more than 5%, the complaint alleges.

​Then, the Beauty Health class action lawsuit alleges that, on November 13, 2023, Beauty Health disclosed that its third quarter of 2023 “was overshadowed by lower-than-expected U.S. revenue and $63.1 million in restructuring charges related to device upgrades of early generation Syndeo devices.”  As a result, the complaint alleges, Beauty Health announced that it was “revising its fiscal year 2023 net sales guidance to a range of $385 to $400 million, its fiscal year adjusted EBITDA margin guidance to a range of 5% to 6% and is suspending its long-term 2025 financial outlook.”  Beauty Health further disclosed that defendant Andrew Stanleick would depart Beauty Health as President and Chief Executive Officer and relinquish his Board seat, effective November 19, 2023, the Beauty Health class action lawsuit further alleges.  On this news, the price of Beauty Health shares fell by more than 64%, the complaint alleges.

THE LEAD PLAINTIFF DEADLINE IN THE BEAUTY HEALTH CLASS ACTION LAWSUIT

​When a securities class action is filed such as the Beauty Health class action lawsuit, the person who files the first complaint is required to publish a notice announcing the filing. Anyone who wants to be lead plaintiff on behalf of the class in the Beauty Health class action lawsuit must thereafter file a motion to be appointed as lead plaintiff(s) no later than 60 days after the notice was published. ​

THE LEAD PLAINTIFF PROCESS IN THE BEAUTY HEALTH CLASS ACTION LAWSUIT

The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in Beauty Health stock to seek appointment as lead plaintiff in the Beauty Health class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. 
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​A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit.  An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in Beauty Health​ stock and have further questions, contact Beauty Health stock loss Lawyer Timothy L. Miles today who will fight to recover your damages in a Beauty Health class action lawsuit if you suffered losses in Beauty Health​ stock.

THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE BEAUTY HEALTH CLASS ACTION LAWSUIT

Serving as a Lead Plaintiff in the Beauty Health class action lawsuit has several advantages and important benefits including:

• A Lead Plaintiff is able to negotiate more competitive attorney fees and reduce other litigation costs by actively monitoring the class counsel.
• Lead Plaintiff has the benefit of being able to manage the litigation primarily by overseeing and monitoring the progress of the action and the efforts of counsel, and being able to review and comment on important filings and other documents pertaining to the prosecution of the action.
• There is no financial risk in serving as a Lead Plaintiff because Lead Counsel advances all costs and expenses incurred in the prosecution of the case and will be reimbursed only if there is a successful settlement or judgment recovery on behalf of the class.
• Lead Plaintiff has the benefit of being involved and active in all negotiations relating to any settlement.
• Lead Plaintiffs that continue owning the stock of the defendant will enjoy the long-term benefits from governance reform resulting from the litigation. 

Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against Beauty Health if you suffered significant losses in Beauty Health​​ stock. ​

RESPONSIBILITIES THE LEAD PLAINTIFF will HAVE IN THE BEAUTY HEALTH CLASS ACTION LAWSUIT

​​A Lead Plaintiff owes a fiduciary duty to the class, and therefore, must act in the best interest of the class in the Beauty Health class action lawsuit.  Some of the responsibilities of the Lead Plaintiff in the Beauty Health class action lawsuit include:

• Selecting, monitoring, and overseeing Lead Counsel.
• Reviewing and commenting on court filings on behalf of the class.
• Discussing litigation strategies with the Lead Counsel.
• Attending depositions (if necessary) and giving a deposition.
• Attending hearings (if necessary).
• Participating in mediation and the trial (if necessary).
• Provide input on any decision concerning the settlement of the securities class action.

THE LEAD PLAINTIFFS will not GET MORE MONEY THAN CLASS MEMBERS IF THE BEAUTY HEALTH CLASS ACTION LAWSUIT SETTLES

But they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class in the Beauty Health class action lawsuit. Under the Private Securities Litigation Reform Act of 1995, a Lead Plaintiff is only entitled to his or her pro rata share of any recovery and does not receive any additional money for serving as a representative party on behalf of the class.  However, a court, in its discretion, may approve an award of “reasonable costs and expenses (including lost wages)” to a Lead Plaintiff that directly relates to the representation of the class in the Beauty Health class action lawsuit on behalf of investors who suffered losses in Beauty Health stock. ​

THE COURT may APPOINT MORE THAN ONE LEAD PLAINTIFF IN THE BEAUTY HEALTH LAWSUIT

​​Yes, at its discretion the Court may appoint a person, entity, or group of persons and/or entities as Lead Plaintiffs to oversee the Beauty Health​​ lawsuit.

HOW WAS THE CLASS PERIOD DETERMINED IN THE BEAUTY HEALTH LAWSUIT?

In a securities fraud class action, the class period refers to a period of time in which it is alleged the price of the company’s stock was artificially inflated due to false and misleading statements made by company executives.  The class period starts when the company makes an untrue statement of material fact about the company or fails to disclose a material fact necessary to render other statements not misleading.  The class period ends when the truth is revealed to the investing public through a corrective disclosure.  
 
In order to be a part of the class in the Beauty Health lawsuit, you must have suffered losses in Beauty Health stock by purchasing during the class period when it is alleged the price of the stock was artificially inflated to be included in the class action against Beauty Health​​.  

CONTACT A BEAUTY HEALTH STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN BEAUTY HEALTH STOCK ABOUT A BEAUTY HEALTH CLASS ACTION LAWSUIT

​If you suffered losses in Beauty Health stock, contact Beauty Health stock loss lawyer Timothy L. Miles today for a free case evaluation about a Beauty Health class action lawsuit. Call today and see what a Beauty Health stock loss lawyer could do for you if you suffered losses in Beauty Health ​stock.

Beauty Health stock loss lawyer Timothy L. Miles 

Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors, shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,​Class Action:  Class Action: Top 9National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM  (2019-2022); America’s Most Honored Lawyers 2020 – Top 1% by America’s Most Honored (2020-2022).  Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more.  Please visit our website or call for free anytime.

CONTACT                                                      
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
​300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846-6529