Important Information Regarding Section 20(a) Individual Liability Claims: Two Helen of Troy Executives Personally Named for Alleged Role in Project Pegasus Misrepresentations That Cost HELE Investors Millions
NEW YORK, June 15, 2026 (GLOBE NEWSWIRE) — Levi & Korsinsky, LLP alerts investors in Helen of Troy Limited (NASDAQ: HELE) that two senior executives are named as individual defendants in a securities class action filed on behalf of shareholders who purchased securities between April 24, 2024, and October 8, 2025. Find out if you qualify to recover losses or contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.
HELE shares suffered three separate corrective declines during the Class Period, including a 27.7% single-day drop and a $414.4 million goodwill impairment. The Court has set August 3, 2026 as the deadline to apply for lead plaintiff appointment.
The Named Individual Defendants
The complaint identifies two Helen of Troy officers as controlling persons under Section 20(a) of the Securities Exchange Act of 1934:
- Noel Geoffroy served as CEO from March 1, 2024, until her sudden departure on May 2, 2025. Prior to her appointment as CEO, Geoffroy served as COO for approximately two years and personally spearheaded the Project Pegasus restructuring initiative.
- Brian Grass served as Interim CEO from May 2, 2025, through September 1, 2025, and has served as the Company’s longtime CFO. Grass participated in earnings calls throughout the Class Period and made specific representations about Project Pegasus savings targets and gross margin expansion.
Section 20(a) Control Person Framework
The action contends that both Individual Defendants, by virtue of their senior positions, possessed the power and authority to control Helen of Troy’s public statements, SEC filings, press releases, and presentations to analysts and institutional investors. As pleaded, each defendant was provided with copies of the Company’s reports prior to issuance and had the ability and opportunity to prevent their dissemination or cause them to be corrected.
Alleged Control Person Liability
The complaint charges that the Individual Defendants:
- Controlled the contents of Helen of Troy’s SEC filings, press releases, and analyst presentations throughout the Class Period
- Had direct involvement in day-to-day operations and intimate knowledge of the Company’s actual performance versus public representations
- Possessed access to material non-public information showing Project Pegasus was not delivering the efficiencies publicly claimed
- Knew that Helen of Troy lacked sufficient budget and resources to achieve stated restructuring and savings goals
- Authorized or approved statements touting Project Pegasus as “on track” and generating “fuel” for growth while internal realities contradicted these claims
Sarbanes-Oxley Certification Obligations
Under Sections 302 and 906 of the Sarbanes-Oxley Act, senior officers who sign SEC certifications bear personal responsibility for the accuracy and completeness of the financial statements and disclosures contained in periodic filings. Both Geoffroy and Grass signed certifications during the Class Period affirming the accuracy of Helen of Troy’s public filings.
Speak with an attorney about recovering damages or call (212) 363-7500.
“Corporate officers have a duty to ensure their companies’ public statements are accurate and complete. When executives personally direct a restructuring initiative and repeatedly certify its success to investors, they bear responsibility when those representations are allegedly contradicted by internal realities.” — Joseph E. Levi, Esq.
Scienter Allegations
The lawsuit asserts that a strong inference of scienter arises from multiple factors: Project Pegasus was personally spearheaded by Geoffroy, making it implausible that she was unaware of significant problems; macroeconomic and external conditions during the Class Period made original savings targets unachievable; and Geoffroy’s sudden departure after only 14 months as CEO, with no successor in place, further supports the inference of knowledge.
Submit your information to join the recovery or contact Joseph E. Levi, Esq. at (212) 363-7500.
Levi & Korsinsky, LLP — Top 50 securities litigation firm (ISS, seven consecutive years). Over 70 professionals. Hundreds of millions recovered.
Frequently Asked Questions About the HELE Lawsuit
Q: Who are the defendants named in the HELE lawsuit? A: The complaint names Helen of Troy Limited and individual defendants Noel Geoffroy (former CEO) and Brian Grass (Interim CEO and CFO), who signed SEC filings, made public statements, and certified financial disclosures under Sarbanes-Oxley during the Class Period.
Q: What specific misstatements does the HELE lawsuit allege? A: The complaint alleges Helen of Troy made materially false or misleading statements regarding the progress, success, and savings trajectory of Project Pegasus, a global restructuring program. When the true state of affairs was revealed through multiple corrective disclosures, the stock price declined sharply on three separate, related occasions.
Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.
Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.
Q: What if I already sold my HELE shares — can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the Class Period and sold at a loss may still participate.
Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. You submit a claim form to receive your portion of recovery.
Q: Can I join a different law firm’s lawsuit instead? A: Multiple firms often file competing complaints. The court consolidates and appoints a single lead counsel. Contacting Levi & Korsinsky before August 3, 2026 ensures your losses are considered.
CONTACT:\
Levi & Korsinsky, LLP\
Joseph E. Levi, Esq.\
Ed Korsinsky, Esq.\
33 Whitehall Street, 27th Floor\
New York, NY 10004\
[email protected]\
Tel: (212) 363-7500\
Fax: (212) 363-7171
