News | Entertainment
17 Oct 2021 11:03
NZCity News
NZCity CalculatorReturn to NZCity

  • Start Page
  • Personalise
  • Sport
  • Weather
  • Finance
  • Shopping
  • Jobs
  • Horoscopes
  • Lotto Results
  • Photo Gallery
  • Site Gallery
  • TVNow
  • Dating
  • SearchNZ
  • NZSearch
  • RugbyLeague
  • Make Home
  • About NZCity
  • Contact NZCity
  • Your Privacy
  • Advertising
  • Login
  • Join for Free

  •   Home > News > Entertainment

    Jessica Alba's Honest Company are being sued by shareholders for alleged fraud

    The 'Sin City' star's firm have been accused of misleading people by failing to disclose essential details about sales after they saw business boom during the early months of the coronavirus pandemic, when parents were stocking up on diapers and other products, only to fall in the subsequent quarters

    According to documents obtained by TMZ, the shareholders insisted they bought Honest stock when the company went public in May 2021 because of strong financial reports from the previous year, making it seem as if the company was on the rise.

    However, two months later, a report from the firm revealed they had lost $20 million in the second quarter of 2021, causing stock prices to plummet almost 43$ from the public offering price.

    The shareholders alleged in the lawsuit that Honest hid the basic fact that consumers had stockpiled because of the pandemic and by the time they went public, they knew sales had dropped in a major way.

    However, the group admitted Honest had disclosed the global health crisis had contributed to high sales and there was no assurance the figures would continue at such a level, but they argued the firm knew sales had already begun to drop but weren't transparent about it.

    A spokesperson for Jessica and the Honest Company has not yet commented on the lawsuit.

    Meanwhile, the 40-year-old actress - who has children Honor, 13, Haven, nine, and Hayes, three, with husband Cash Warren - previously admitted she has been attending therapy with her teenage daughter in order to improve communication between them.

    She said: "[With] my 13 year old, I'm struggling with not treating her like a little [kid] - I want to treat them all like babies. I want to baby them. Still my tendency is to parent them as if they are little.

    “I started going to therapy with her I think when she was 11. For me it was really out of, I felt like my relationship really suffered with my parents because they didn't know how to communicate with me and how I needed to be parented. So I didn't want that breakdown with Honor so we went to therapy together."

    © 2021 Bang Showbiz, NZCity

     Other Entertainment News
     17 Oct: Prince William's son Prince George was "annoyed" when he learned about littering
     17 Oct: Daniel Craig feels "safer" in gay bars
     17 Oct: George Clooney has said that he "messed up" playing Batman
     17 Oct: Jake Paul is close to finalising a deal to fight Tommy Fury
     17 Oct: Clara McGregor has revealed she battled a tranquiliser addiction
     17 Oct: Matt Damon and Ben Affleck didn't "know what [they] were doing" when they wrote 'Good Will Hunting'
     17 Oct: Billie Eilish didn't follow protocol when she met the British royal family at the 'No Time To Die' premiere in London
     Top Stories

    A season of milestones continues for Hawke's Bay in the NPC More...

    Little time for Rally New Zealand organisers to celebrate the event's inclusion back on the World Rally Championship calendar More...

     Today's News

    Liverpool manager Jurgen Klopp is hailing Mo Salah as the best player in the world after the Egyptian set up the opening goal and then scored arguably the goal of the Premier League season in a 5-nil romp at Watford 10:44

    Prince William's son Prince George was "annoyed" when he learned about littering 10:36

    Law and Order:
    Three US constable deputies have been shot in an ambush 10:24

    A person has been seriously injured after a two car crash in Christchurch this morning 10:14

    Daniel Craig feels "safer" in gay bars 10:06

    George Clooney has said that he "messed up" playing Batman 9:36

    Intersex people urge ban on non-consensual 'sex-normalisation' surgeries 9:24

    Prime Minister Boris Johnson visits church where British MP David Amess was stabbed to death 9:24

    Courtney Duncan has kept her major rival at bay ensuring she will head to the final round next weekend in pole position to secure a third straight women's motocross world championship title 9:24

    Former Kiwi tennis player Cameron Norrie is about to take to the court in Indian Wells for the biggest match of his career 9:24

     News Search

    Power Search

    © 2021 New Zealand City Ltd