Oddity Tech .(US:ODD) Prnewswireยท2024-05-30 21:20Core Viewpoint - Pomerantz LLP is investigating claims of potential securities fraud and unlawful business practices by Oddity Tech Ltd, following allegations from Ningi Research that the company misled investors about its business operations [1][2]. Group 1: Allegations Against Oddity Tech Ltd - Ningi Research published a report claiming that Oddity misled investors regarding critical aspects of its business, including the existence of a significant brick-and-mortar operation [2]. - The report alleges that Oddity operates 43 stores and six beauty schools, which were not disclosed in SEC filings, contradicting the company's claim of being an "online-only" business [2]. - Ningi also raised concerns about undisclosed and unaudited operations in Israel, potential issues within the finance department, and an understated employee count [2]. Group 2: Market Reaction - Following the release of the Ningi report, Oddity's stock price dropped by $3.02, or 7.37%, closing at $37.97 per share on May 21, 2024 [2].