Oddity Wins Dismissal of Putative Securities Class Action

On September 9, 2026, the U.S. District Court for the Southern District of New York granted a motion to dismiss all claims in their entirety on behalf of Cravath client Oddity Tech Ltd. ("Oddity") and individual defendants in a putative securities fraud class action.

Plaintiffs, individual Oddity shareholders, brought claims under Sections 11 and 15 of the Securities Act and Sections 10(b) and 20(a) of the Securities Exchange Act, alleging that certain of Oddity's SEC filings and other disclosures misrepresented or omitted key details about the company's business model, operations and involvement in litigation. On Oddity's behalf, Cravath filed a comprehensive motion to dismiss all claims that identified numerous deficiencies in plaintiffs' complaint. The Court concluded that plaintiffs failed to plead a single actionable misstatement and therefore dismissed the case in its entirety, obviating the need to address Oddity's remaining arguments. Among other things, the Court concluded that purported misstatements alleged by plaintiffs were not materially false or misleading, that Oddity had no duty to disclose certain purportedly undisclosed information and that certain allegedly undisclosed or misstated information had been previously disclosed to the public.

The Cravath team included partners Yonatan Even and Lauren M. Rosenberg, senior attorney M. Brent Byars and associates Conor J. Regan and Samantha Jaloza.

The case is Hoare v. Oddity Tech Ltd., et al., No. 24-cv-06571 (S.D.N.Y.).