Reported about 19 hours ago
Elf Beauty has dismissed claims from short-seller Muddy Waters that it has overstated its revenue and inventory, calling the accusations 'without merit'. Muddy Waters alleges that Elf may have inflated its figures by $190 million over three years. Despite a recent drop in stock prices, Elf's shares gained 6% after the company maintained its strong performance in a challenging beauty market, while also highlighting a confidentiality request regarding its import data.
Source: YAHOO