Olaplex’s $48 Million Investor Accord Gets First Court Nod (1)

Olaplex Holdings Inc. ‘s $47.5 million settlement got a federal judge’s initial blessing to resolve investor allegations that its initial public offering documents didn’t disclose the European Union banned an ingredient formerly used in one of its products.

Judge Stephen V. Wilson preliminarily approved the luxury hair care company’s agreement in the US District Court for the Central District of California, per an order entered Monday. Wilson had ruled the IPO paperwork was plausibly misleading because Olaplex presented the possibility of prohibitions on certain ingredients and any ensuing business effects as a hypothetical—but the EU had already barred lilial, which ...