An investigation on behalf of investors of Evolus, Inc. (NASDAQ: EOLS) shares over potential securities laws violations by Evolus, Inc. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Evolus, Inc. (NASDAQ: EOLS) concerning whether a series of statements by Evolus, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Newport Beach, CA based Evolus, Inc., a performance beauty company, provides medical aesthetic products for physicians and their patients in the United States.

An International Trade Commission judge issued a preliminary ruling on trade secrets action involving Evolus, Inc. on July 6, 2020. The non-binding decision sided with Allergan and its partner Medytox in finding that the Company and its South Korean partner firm Daewoong developed its Jeuveau product using stolen trade secrets. The judge recommended a 10-year ban on the importation of Jeuveau into the United States.

Shares of Evolus, Inc. (NASDAQ: EOLS) declined from $29.40 per share in April 2019, to as low as $3.00 per share on July 9, 2020.