Lilien v. Olaplex Holdings, Inc.

A $47.5 million settlement was reached that resolves claims on behalf of all persons and entities that purchased or otherwise acquired the publicly traded common stock of Olaplex on or before November 12, 2021, pursuant and/or traceable to the Offering Documents for Olaplex’s IPO, and were allegedly damaged thereby.

On February 27, 2023, Labaton Keller Sucharow was appointed lead counsel in a securities class action against Olaplex Holdings, Inc. (Olaplex). Olaplex is a hair care brand founded in 2014. On or about September 29, 2021, Olaplex commenced its initial public offering by offering and selling over 84 million shares of common stock to the public at $21.00 per share. On April 28, 2023, Lead Plaintiff filed a Consolidated Class Action Complaint for Violations of the Securities Laws asserting claims for violations of Sections 11, 12(a)(2), and 15 of the Securities Act of 1933 (the “Securities Act”) against Olaplex and the Individual Defendants, and added claims against the Underwriters of the IPO, and the Selling Stockholders. Among other things, the April 28, 2023 complaint alleged that the Offering Documents filed in connection with Olaplex’s IPO contained certain materially false and misleading statements or omissions related to the impact of laws and regulations on Olaplex’s business as well as product safety-related risks. On June 22, 2023, Lead Plaintiff filed a Revised Consolidated Class Action Complaint for Violations of the Federal Securities Laws, which is the operative complaint in the Action.

On July 19, 2023, Olaplex, the Individual Defendants, the Underwriters and the Selling Stockholders filed their motions to dismiss the Complaint, which Lead Plaintiff opposed. After two hearings, on February 7, 2025, the Court issued an order granting in part, and denying in part, defendants’ motions to dismiss (the “MTD Order”). The MTD Order granted the Underwriters’ motion to dismiss and the Selling Stockholders’ motions to dismiss, finding that the claims against those entities were time-barred under the applicable statute of limitations. With respect to the Olaplex and Individual Defendants’ motion to dismiss, the MTD Order granted their motion with respect to certain misstatements alleged in the Complaint, and denied the motion with respect to two separate allegedly false and misleading risk factor statements concerning the potential impact of laws and regulations on Olaplex’s business and risks related to product safety, as well as to omissions of material information allegedly required to be disclosed concerning risks to Olaplex.

Approximately 51,000 documents were produced by the Parties and third parties in formal discovery. Lead Plaintiff filed its motion for class certification on May 30, 2025, which was pending when the Parties agreed to a resolution of the Action.

On June 19, 2025, Lead Counsel and Defendants’ Counsel, among others, participated in a full-day, in-person mediation session before the Mediator. The session ended without a resolution and the Parties agreed to continue discussions with the Mediator.  On June 28, 2025, the Mediator issued a mediator’s recommendation to the Parties, which was accepted on July 1, 2025, subject to the execution of a formal settlement agreement.

A Status Conference was held before the Court on July 7, 2025 to discuss the proposed Settlement where the Court provided guidance concerning the scope of the class the Court would be prepared to certify as part of the Settlement. The Court informed the Parties that it was strongly inclined to only certify a settlement class that was limited to investors that purchased or otherwise acquired Olaplex’s common stock pursuant and/or traceable to the Offering Documents through November 12, 2021, due to concerns regarding traceability after this date. (Tr. of Status Conference 6:3-7 (“And then November was when the shares that were initially offered began to sell on the market. And for a number of reasons, from that point forward, the Court would find that at least at this point that there is no predominance for all the class members thereafter.”)).

The Parties’ settlement in principle was subsequently memorialized in a confidential term sheet executed and finalized on July 26, 2025 and the Stipulation was executed on August 1, 2025.

The case is called as Lilien v. Olaplex Holdings, Inc., No. 22-CV-08395-SVW and is assigned to the Honorable Stephen V. Wilson, United States District Judge.  Labaton Keller Sucharow represents Arkansas Teacher Retirement System. The Court in charge of the case is the United States District Court for the Central District of California.

Submit Claim Form

If you purchased or otherwise acquired Olaplex publicly traded common stock on or before November 12, 2021, pursuant and/or traceable to the Offering Documents for Olaplex’s IPO, and were allegedly damaged thereby, you may be entitled to a payment from a class action settlement.  To be eligible for a payment, you must submit a Claim Form to the Claims Administrator by November 24, 2025.

Settlement Hearing

A Settlement Hearing will be held on December 1, 2025 at 1:30 p.m. (PT), either remotely or in person, at the U.S. District Court, Central District of California, First Street Courthouse, 350 W. 1st Street, Courtroom 10A, 10th Floor, Los Angeles, CA 90012.

If you have questions about the Settlement, please contact Labaton Keller Sucharow at settlementquestions@labaton.com; 1-888-219-6877; or contact the Claims Administrator, Epiq,

1-877-879-0943. Additional information about the Settlement can also be found at www.OlaplexSecuritiesSettlement.com.

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