NEW YORK, Oct. 7, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of The Honest Company, Inc. ("The Honest Company" or the "Company") (NASDAQ: HNST). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether The Honest Company and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On or about May 5, 2021, The Honest Company sold approximately 25.8 million shares of stock in its initial public stock offering (the "IPO") at $16.00 per share, raising nearly $413 million in new capital. Then, on August 13, 2021, The Honest Company released financial and operating results for the second quarter of 2021. The Company posted a net loss of $20.2 million, or $0.17 per share, for the quarter, compared to a loss of $375,000, or $0.01 per share, for the same period in the prior year.
On this news, the Company's stock price $3.98 per share, or 28.33%, to close at $10.07 per share on August 13, 2021.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP