"Despite being no stranger to beauty brand acquisitions, Coty did not have adequate processes and procedures in place to assess and properly value the P&G Specialty Beauty Business and Kylie Cosmetics acquisitions, [and] as a result, Coty overpaid for [them]," claims shareholder Crystal Garrett-Evans, who is suing the company's directors.
Coty's stock has decreased in value since the Kylie Cosmetics acquisition and especially in light of thereport, and it goes without saying that they're not seeing the profit increase you'd expect from acquiring a company with the credentials Jenner once cited. Shareholders argue Coty overpaid for all those lip kits, and it's now up to the courts to decide whether or not they could have avoided doing so.
how scandalous
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