Oddity Tech Ltd. (NASDAQ: ODD)

This lawsuit is for anyone who acquired securities in Oddity Tech Ltd. (NASDAQ: ODD) from July 19, 2023 through May 20, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by lying to investors regarding just about every material aspect of its business.

On May 21, 2024, NINGI Research published a report alleging, among other things, that Oddity “completely misled investors about every critical aspect of its business,” specifically regarding its AI, stating that former employees disclosed that the Company’s AI is nothing but a questionnaire”; that Oddity’s lauded “repeat purchase rates” are attributable to “customers unknowingly enter[ing] into non-cancelable plans” that allow the Company “to recognize repeat purchases in the following quarters even though the customers don’t want the product.” Additionally, the report claimed that it had “found hundreds of undisclosed lawsuits filed against ODDITY and its subsidiaries in the US and Israel, frequently alleging unpaid bills and violations of consumer protection laws,” including multiple class action lawsuits filed within the past several years. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Oddity Tech Ltd. (NASDAQ: ODD) from July 19, 2023 through May 20, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.