Ulta Salon, Cosmetics & Fragrance, Inc.Cohen Milstein has filed a lawsuit on behalf of its client and a proposed class of persons who purchased or otherwise acquired Ulta Salon, Cosmetics & Fragrance, Inc. (“ULTA” or the “Company”) (NASDAQ: ULTA) common stock on the open market and/or pursuant or traceable to the Company’s October 25, 2007 Initial Public Offering (the “IPO” or the “Offering”) through December 10, 2007, inclusive (the “Class Period”), in the United States District Court for the Northern District of Illinois, Eastern Division. The complaint charges ULTA; Lynelle P. Kirby, the Company’s President and Chief Executive Officer; Gregg R. Bodnar, the Company’s Chief Financial Officer; and Bruce E. Barkus the Company’s Chief Operating Officer, with violations of the Securities Act of 1933 and the Securities Exchange Act of 1934. According to the complaint, the defendants allegedly knowingly or recklessly issued false and misleading statements that materially misrepresented ULTA’s trends in expenses and inventory levels, allowing the company to conduct its IPO and causing the Company’s stock price to be artificially inflated in the aftermarket. According to the Complaint, on December 11, 2007, ULTA disclosed its third quarter 2007 results for the quarter that ended less than two weeks after its IPO. On that date, ULTA revealed that its selling, general, and administrative expenses (“SG&A”) had increased 36% to $55.6 million, due largely to increased expenditure for advertising. The Company also announced that its operating income and net income for the first nine months of 2007 had declined compared to the same period of the prior year, and that its inventory levels had increased. If you purchased or acquired ULTA securities during the Class Period, you may, no later than February 19, 2008, move the court to be appointed as Lead Plaintiff. There are certain legal requirements to serve as Lead Plaintiff. Any member of the purported class may move the court to serve as Lead Plaintiff through counsel of their choice or may choose to remain an absent class member. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as Lead Plaintiff. To be a member of the class, you need not take any action at this time. Cohen, Milstein, Hausfeld & Toll, P.L.L.C. has significant experience in prosecuting investor class actions and actions involving securities fraud. The firm has offices in Washington, D.C., New York, Philadelphia, Chicago, San Francisco and London, and is active in major litigation pending in federal and state courts throughout the nation. You may visit the firm’s website at http://www.cmht.com. The firm's reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm to lead positions in complex multi-district or consolidated litigation. Cohen, Milstein, Hausfeld & Toll, P.L.L.C. has taken a lead role in numerous important cases on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total in the billions of dollars. If you have any questions about this notice or the action, or with regard to your rights, please contact either of the following: Steven J. Toll, Esq.
Cohen, Milstein, Hausfeld & Toll, P.L.L.C.
1100 New York Avenue, N.W.
West Tower – Suite 500
Washington, D.C. 20005
Telephone: (888) 240-0775 or (202) 408-4600
E-mail: stoll@cmht.com |
