News | Entertainment
22 Oct 2021 5:50
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
  • Crime.co.nz
  • 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
     21 Oct: Emma Raducanu has been announced as the new face of Dior
     21 Oct: Lily Allen is reportedly set for a role in a major BBC drama
     21 Oct: Edie Falco felt a special connection with 'The Sopranos' co-star James Gandolfini
     21 Oct: Sara Gilbert and Linda Perry have finalised their divorce
     21 Oct: The Duke and Duchess of Cambridge have hosted the delayed reception to mark the unveiling of the Princess Diana statue
     21 Oct: Jamie Lee Curtis and Lindsay Lohan have a "secret code" they use to text each other
     21 Oct: Mila Kunis told her daughter to "push back" after getting shoved during preschool
     Top Stories

    RUGBY RUGBY
    Stacey Michelsen feels ready to depart the international hockey stage More...


    BUSINESS BUSINESS
    New Zealand's passed a world-first law making businesses disclose climate impacts More...



     Today's News

    Business:
    New Zealand's passed a world-first law making businesses disclose climate impacts 21:54

    Entertainment:
    Emma Raducanu has been announced as the new face of Dior 21:33

    Hockey:
    Stacey Michelsen feels ready to depart the international hockey stage 21:14

    International:
    NSW families to receive $250 vouchers as 'thank you' for homeschooling during COVID-19 lockdown 21:04

    Entertainment:
    Lily Allen is reportedly set for a role in a major BBC drama 21:03

    Entertainment:
    Edie Falco felt a special connection with 'The Sopranos' co-star James Gandolfini 20:33

    Entertainment:
    Sara Gilbert and Linda Perry have finalised their divorce 20:03

    Entertainment:
    The Duke and Duchess of Cambridge have hosted the delayed reception to mark the unveiling of the Princess Diana statue 19:33

    Entertainment:
    Jamie Lee Curtis and Lindsay Lohan have a "secret code" they use to text each other 19:03

    Basketball:
    Steven Adams has helped post a win in his first game with his new NBA team the Memphis Grizzlies 18:54


     News Search






    Power Search


    © 2021 New Zealand City Ltd