Home Options Shares of Ulta Beauty Sink on Reselling Allegations

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Shares of Ulta Beauty (ULTA) sank in trading on Monday due to allegations that the company resells used cosmetics. A class action lawsuit was filed against the company in Chicago federal court and reported by the Chicago Tribune. In the lawsuit, a woman claimed that the company is selling used cosmetics to customers without notifying them of the practice. In addition, former ULTA employees have also tweeted alleging the same thing. Shares of ULTA closed down -4.15% at 209.48 after the news. Keep an eye on the stock as this story is developing.


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