|Company Name||Coty Inc.|
On July 1, 2019, the Company disclosed a $3 billion impairment charge related to brands that Coty had acquired from Proctor & Gamble Co. in 2016 for nearly $12 billion. Earlier this year, the Company had recorded a $965 million impairment charge in connection with its second quarter 2019 financial results.
On this news, the Company’s share price fell $1.81, or nearly 14%, to close at $11.59 on July 1, 2019, thereby injuring investors.
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