August, 21, 2009
According to a notice from August, 21, 2009 the class action Ulta Salon has been conditionally certified as a class action and that a settlement for $3,750,000 has been proposed. A hearing will be held before the Honorable Robert W. Gettleman, United States District Judge on November 16, 2009 at 10:00 a.m. in Courtroom 1703 of the United States Courthouse, 219 South Dearborn Street, Chicago, Illinois 60604, to determine whether:

1. The Class should be finally certified for settlement purposes;

2. The proposed settlement of the Action for $3,750,000, plus interest, is fair, reasonable and adequate and should be approved by the Court;
An Order and Final Judgment should be entered dismissing all claims in the Action against the Defendants and dismissing the Action with prejudice, and without costs;

3. The Plan of Distribution of the Net Settlement Fund should be approved; and

4. To award attorneys' fees and expenses requested by Lead Counsel on behalf of Plaintiffs' Counsel.

June 04, 2009

Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA) announced on June 04, 2009 that it had reached a preliminary settlement in its class action lawsuit. On May 29, 2009, the Company and its primary insurance carrier engaged in a mediation with counsel representing the putative class. Although defendants continue to deny plaintiffs' allegations, in the interest of putting this matter behind it, the Company and its insurer have reached a tentative settlement with plaintiffs, subject to agreement on comprehensive settlement documentation and approval by the Court. All amounts to be paid under the tentative settlement will be paid out of proceeds of the Company's D&O insurance coverage.

December 19, 2007

According to a press release dated December 19, 2007, the complaint charges ULTA and three of its officers with violations of the Federal Securities Laws. ULTA operates retail stores that sell cosmetics and related items. ULTA went public on October 25, 2007 (”IPO”), just nine days prior to the close of its fiscal third quarter on November 3, 2007 (”Third Quarter”). As alleged in the complaint, defendants issued materially false and misleading statements in connection with the IPO concerning ULTA’s financial condition and the levels of its selling, general and administrative expenses inventories. On December 11, 2007, ULTA issued a press release disclosing the results of its Third Quarter, admitting that its inventories and SG&A expenses had risen dramatically in the Third Quarter. As a result of this startling disclosure, the price of ULTA common stock, which had been inflated by defendants’ misrepresentations, declined in value.