SAN FRANCISCO, April 21, 2026 /PRNewswire/ — Schubert Jonckheer & Kolbe LLP advises e.l.f. Beauty, Inc. (NYSE: ELF) investors that the firm is investigating potential legal claims arising from alleged false statements about the strength of consumer demand and rising inventory levels. Current shareholders are encouraged to contact the firm here: https://www.classactionlawyers.com/elfbeauty

On February 4, 2026, U.S. District Judge Eumi K. Lee ruled that key claims in a securities fraud lawsuit against e.l.f. Beauty and its CEO will move forward. The lawsuit alleges that between February 2024 and February 2025, the company misled investors concerning demand for e.l.f. Beauty’s products and the cause of rising inventory despite knowing that demand had weakened and resulted in increased inventory. These statements allegedly caused e.l.f. Beauty’s stock to trade at artificially inflated prices. Judge Lee found the complaint sufficiently alleged that false and misleading statements about these matters were made with an intent to defraud. During this period, company insiders sold over $121 million in stock. After the truth came out in February 2025, when the company disclosed that net sales outlook for the final 2025 quarter would be negative, in part due to weakness in sales at a major retail partner, the stock price fell 20%.

We are investigating potential wrongdoing by e.l.f. Beauty’s directors and officers in connection with these allegations.

If you own e.l.f. Beauty stock, you may have legal options. Visit https://www.classactionlawyers.com/elfbeauty to learn more.

About Schubert Jonckheer & Kolbe LLP
Schubert Jonckheer & Kolbe represents consumers in class actions and shareholders in derivative actions against corporate officers and directors. The firm is based in San Francisco and, with the help of co-counsel, litigates cases nationwide.

Contact
Dustin L. Schubert
dschubert@sjk.law
Tel: 415-788-4220

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SOURCE Schubert Jonckheer & Kolbe LLP