Revolution Beauty Group PLC (AIM:REVB) is facing allegations made by Chrysalis Investments Limited concerning the trading of the company's shares between July 2021 and late 2022.
In a response on Friday, the listed beauty retailer acknowledged the receipt of a pre-action letter from Chrysalis, indicating potential claims against the company.
However, it emphasised that no legal actions have formally commenced.
The cosmetics company firmly contests the allegations laid out by Chrysalis Investments,.
With the situation yet to escalate into formal proceedings, Revolution Beauty is actively engaging with Chrysalis's advisers to discuss the matters at hand.
Revolution Beauty is coming back from huge boardroom changes last year after shareholder Boohoo demanded a C-suite shake-up.
It resulted in the group’s chairman, chief executive officer and chief legal officer all departing the company’s board.