Oddity Tech .(US:ODD) GlobeNewswire News Roomยท2024-09-13 21:53Core Viewpoint - A class action lawsuit has been filed against Oddity Tech Ltd. for allegedly misleading investors regarding its business practices and financial health [1][4]. Company Overview - Oddity Tech Ltd. is headquartered in Tel Aviv, Israel, and operates as a consumer tech platform aimed at transforming the global beauty and wellness market through an AI-driven online platform [3]. Lawsuit Details - The lawsuit covers purchasers of Oddity securities from July 19, 2023, to May 20, 2024, with a deadline of September 17, 2024, for investors to seek lead plaintiff status [2]. - The lawsuit claims that a report by NINGI Research accused Oddity of misleading investors about critical aspects of its business, including the nature of its AI technology and undisclosed legal issues [4]. Financial Impact - Following the allegations, Oddity's share price dropped by $3.02, or 7.37%, closing at $37.97 on May 21, 2024, and continued to decline by an additional $1.30, or 3.42%, over the next two trading sessions [4].