News | Entertainment
27 Oct 2021 13:28
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
     27 Oct: Sir Elton John is looking forward to spending time with his family after his farewell tour
     27 Oct: James Corden has reportedly been offered a record-breaking deal to keep hosting 'The Late Late Show'
     27 Oct: Halyna Hutchins’ family are demanding answers over her death
     27 Oct: Ireland Baldwin and Hailey Bieber have sent messages of support to Halyna Hutchins' family
     27 Oct: Melissa McCarthy says she would be a great maths teacher
     27 Oct: Jesy Nelson has revealed that her new single 'Boyz' was the first solo song she wrote
     27 Oct: Paul Walker’s daughter, Meadow Walker, has tied the knot with Louis Thornton-Allan
     Top Stories

    RUGBY RUGBY
    The All Blacks have ratcheted up Covid protocols heading into the European leg of their end-of-year tour More...


    BUSINESS BUSINESS
    Covid-19 vaccine mandates could be a big relief for New Zealand's food exporters More...



     Today's News

    Entertainment:
    Sir Elton John is looking forward to spending time with his family after his farewell tour 13:20

    Law and Order:
    A driver who ploughed into a woman at a Taita pedestrian crossing in Lower Hutt ?and fled?has been sentenced to home detention 13:14

    Entertainment:
    James Corden has reportedly been offered a record-breaking deal to keep hosting 'The Late Late Show' 12:50

    Environment:
    The group want to pass though Auckland to Waitangi, have blocked a road with two vehicles at Auckland's southern border, in Mercer 12:44

    Politics:
    The Government's confirmed Councils must join its water infrastructure reform 12:24

    Entertainment:
    Halyna Hutchins’ family are demanding answers over her death 12:20

    Rugby:
    The All Blacks have ratcheted up Covid protocols heading into the European leg of their end-of-year tour 11:54

    Entertainment:
    Ireland Baldwin and Hailey Bieber have sent messages of support to Halyna Hutchins' family 11:50

    Entertainment:
    Melissa McCarthy says she would be a great maths teacher 11:20

    Cricket:
    South Africa wicketkeeper Quinton de Kock withdraws from Twenty20 World Cup match for refusing team directive to take the knee 11:14


     News Search






    Power Search


    © 2021 New Zealand City Ltd