Levi & Korsinsky Reminds Helen of Troy Limited Investors of the Pending Class Action Lawsuit With a Lead Plaintiff Deadline of August 3, 2026 - HELE
Executive Accountability: Brian Grass Named as Defendant for Alleged Role in Concealing Project Pegasus Failures While Serving as Both CFO and Interim CEO of Helen of Troy
NEW YORK, July 06, 2026 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors that Brian Grass, Helen of Troy Limited's (NASDAQ: HELE) longtime Chief Financial Officer and former Interim CEO, is named as an individual defendant 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 from the HELE securities action. You may also contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or (212) 363-7500.
Helen of Troy shares suffered multiple sharp declines during the Class Period, including a 27.7% single-day drop (7.04 per share), as the alleged truth about the Company's flagship restructuring program emerged. The lead plaintiff deadline is August 3, 2026.
Brian Grass's Dual Role During the Class Period
The complaint identifies Grass as occupying a uniquely central position at Helen of Troy. As the Company's longtime CFO, Grass oversaw financial reporting and projections throughout the Class Period. When CEO Noel Geoffroy suddenly departed on May 2, 2025, after only 14 months in the role, Grass assumed the additional title of Interim CEO, a position he held through September 1, 2025. This dual capacity placed Grass at the intersection of both operational leadership and financial disclosure during a period when, the action contends, investors were receiving materially misleading information about the Company's restructuring progress.
What Brian Grass Allegedly Oversaw
As pleaded in the complaint, Grass made specific assurances to investors on multiple occasions:
- On July 9, 2024, Grass stated the Company still expected to "expand gross margin year-over-year due to Project Pegasus" even as the Company simultaneously slashed its full-year revenue outlook by over 20%
- On October 9, 2024, Grass reiterated gross margin expansion expectations and claimed the Tennessee distribution facility remediation was "substantially completed"
- On January 8, 2025, Grass confirmed Project Pegasus savings targets remained "on track" and that restructuring charges would be "largely completed in fiscal '25"
- By July 10, 2025, now serving as Interim CEO, Grass conceded the Company had become "too matrixed, too slow" and "too complicated," acknowledging a loss of organizational focus he stated he personally owned "as a leader"
The lawsuit asserts that Grass possessed the power and authority to control the contents of Helen of Troy's SEC reports, press releases, and analyst presentations, and that he was provided with copies of these materials prior to or shortly after their issuance.
Grass's Certifications and Liability
As CFO, Grass signed SEC filings containing financial statements and forward-looking projections about Project Pegasus savings. The complaint alleges that these certifications carried personal accountability under the federal securities laws. The action further contends that Grass, by virtue of his high-level positions and direct involvement in day-to-day operations, acted as a controlling person within the meaning of Section 20(a) of the Securities Exchange Act of 1934.
"Individual officers who sign SEC certifications bear personal responsibility for the accuracy of corporate disclosures. When an executive occupies both the CFO and Interim CEO roles during a period of alleged misrepresentation, questions of personal accountability become particularly acute." -- Joseph E. Levi, Esq.
Speak with an attorney about whether Brian Grass's alleged role affected your HELE investment or call (212) 363-7500.
LEAD PLAINTIFF DEADLINE: August 3, 2026
Submit your information to join the HELE recovery effort or contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or (212) 363-7500.
Levi & Korsinsky, LLP, Top 50 securities litigation firm (ISS, seven consecutive years). Over 70 professionals. Hundreds of millions recovered for investors.
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 including senior executives who signed SEC filings, made public statements, or certified financial disclosures under Sarbanes-Oxley. Brian Grass is named both in his capacity as CFO and as former Interim CEO.
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 and success of Project Pegasus, a global restructuring program, and the operational health of its Tennessee distribution center during the Class Period. When the true state was revealed, the stock price declined sharply on multiple occasions.
Q: What do HELE investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at jlevi@levikorsinsky.com or (212) 363-7500. No immediate action is required to remain eligible as a class member.
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: 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.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
Tel: (212) 363-7500
Fax: (212) 363-7171
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