Shares of The Beauty Health Company plummeted 64% on Tuesday, November 14, 2023, after releasing 2023 Q3 results indicating it was lowering its 2023 net sales guidance due to lower-than-expected revenue, suspending its long-term 2025 financial outlook, and lowering other key metrics. The Company also announced the departure of its president and CEO, effective November 19, 2023. Gibbs Law Group is investigating a potential SKIN Securities Class Action Lawsuit on behalf of shareholders who lost money in The Beauty Health Company (NASDAQ: SKIN).
To speak with an attorney regarding this class action lawsuit investigation, click here or call (888) 410-2925.
On Monday, November 13, 2023, The Beauty Health Company published its 2023 Q3 financial results, stating that “the quarter was overshadowed by lower-than-expected U.S. revenue and $63.1 million in restructuring charges related to device upgrades of early generation Syndeo devices.” As a result, the company has suspended its long-term 2025 financial outlook, is revising its 2023 fiscal year net sales guidance to a range of $385-$400 million, and is adjusting its EBITDA margin guidance to a range of 5%-6%. Following the weak earnings results, the company announced that its president and CEO, Andrew Stanleick, is stepping down, effective November 19, 2023.
Following this news, The Beauty Health Company stock plummeted by 64% on Tuesday, November 14, 2023, causing significant harm to investors.
What Should SKIN Investors Do?
If you invested in The Beauty Health Company, visit our website or contact our securities team directly at (888) 410-2925 to discuss how you may be able to recover your losses. Our investigation concerns whether The Beauty Health Company has violated federal securities laws by providing false or misleading statements to investors.
About Gibbs Law Group
Gibbs Law Group represents investors throughout the country in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including “Best Lawyers in America,” “Top Plaintiff Lawyers in California,” “California Lawyer Attorney of the Year,” “Class Action Practice Group of the Year,” “Consumer Protection MVP,” and “Top Women Lawyers in California.”
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Contacts
EILEEN EPSTEIN
PHONE: 510.350.9728
EMAIL: EJE@CLASSLAWGROUP.COM
