ATLANTA, GA – – (Globe Newswire – March 7, 2025) – – A shareholder class action lawsuit has been filed against e.l.f. Beauty, Inc. (“Elf” or the “Company”) (NYSE: ELF). The lawsuit alleges that Defendants made materially false and/or misleading statements and/or failed to disclose material adverse information regarding Elf’s business, operations, and prospects, including allegations that: (i) contrary to its representations to investors, the Company was experiencing rising inventory levels as a consequence of flagging sales; (ii) Elf falsely attributed the rising inventory levels to, among other things, changes in its sourcing practices; (iii) to maintain investor confidence, Elf reported inflated revenue, profits, and inventory over several quarters; (iv) accordingly, the Company’s business and/or financial prospects were overstated; and (v) all of the foregoing, once revealed, would likely have a material negative impact on the Company.

If you bought shares of Elf between November 1, 2023 and November 19, 2024, and you suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey D. Holzer, Esq. at cholzer@holzerlaw.com, by toll-free telephone at (888) 508-6832 or you may visit the firm’s website at www.holzerlaw.com/case/e-l-f-beauty/ to learn more.

The deadline to ask the court to be appointed lead plaintiff in the case is May 5, 2025.