Coty Asks Court to Throw Out Investor Suit Over Beauty Merger

Coty Inc. investors who accused the company of misleading them about a 2016 merger with Procter & Gamble Co.'s beauty business based their case “solely on hindsight,” the company told a federal judge in New York.

The would-be class suit didn’t identify reasons why Coty’s statements were false or raise a strong inference that the beauty company acted with the required intent, according to a motion to dismiss filed in the U.S. District Court for the Southern District of New York.

The amended complaint tries to use 2019 announcements of goodwill and other impairments as a “springboard” for allegations that ...