NEW YORK, July 01, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. is investigating potential claims against Coty, Inc. (COTY) on behalf of Coty stockholders. Our investigation concerns whether Coty has violated the federal securities laws and/or engaged in other unlawful business practices.
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On July 1, 2019, Coty announced that the Company will incur a one-time $600 million cash expense that will be spread across fiscal years 2020 through 2023. The Company also expects to record a $3 billion impairment of its intangible assets, with the final amount to be booked with its fiscal year 2019 earnings. The write-down stems from its acquisition of various brands from Procter & Gamble in 2016. On this news, Coty stock declined by $1.81, to close at $11.59 on July 1, 2019.
If you purchased or otherwise acquired Coty shares, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning our investigation into Coty, Inc. please go to https://bespc.com/coty. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.