Wednesday, Waldencast plc (WALD) announced the conclusion of the U.S. Securities and Exchange Commission investigation regarding the company's restatement of its financial results and material weaknesses in its internal control over financial reporting related to historical accounting practices used by Obagi Cosmeceuticals.
Moreover, the Commission does not intend to recommend an enforcement action against Waldencast based on the information available so far.
"Throughout the Investigation, we fully cooperated and dedicated significant resources to the process. At the same time, we maintained our focus on executing our business plans, upholding strong governance, and ensuring robust internal controls," commented CEO Michel Brousset.
In the pre-market hours, WALD is climbing 33.43 percent, to $1.04 on the Nasdaq.
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