Oddity Tech Ltd.’s stock price dropped by half when investors belatedly learned that the AI-informed company’s largest advertising service provider impeded the effectiveness of its beauty brands’ pitches, socking its revenue, a new lawsuit alleges.
Oddity touted its advertising-dependent model a year ago on the heels of strong 2024 growth, shareholder Travis Peters says in a proposed class action filed Thursday in the US District Court for the Southern District of New York.
The company aims to improve the business of beauty and wellness products with artificial intelligence and “disruptive thinking,” according to its website.
“We once again proved the …
