Beauty Health Co. has agreed to pay $18 million to settle a proposed class action alleging it misrepresented the success of a facial machine for spas and beauty parlors, investors told a federal court.
The deal is fair, the investors leading the suit said Wednesday in a filing asking the US District Court for the Central District of California for preliminary approval. The settlement amount represents about 14% of the $125 million in estimated maximum damages, they said.
That’s well above the median percentage in comparable cases, they said.
The investors alleged that in the period after the Syndeo high-end ...
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