Waldencast announces conclusion of SEC investigation

Waldencast (NASDAQ: WALD) announced on April 28, 2026 that the SEC has concluded its investigation related to Waldencast's restatement and historical accounting practices at Obagi Cosmeceuticals.

Rhea-AI Summary

Waldencast (NASDAQ: WALD) announced on April 28, 2026 that the SEC has concluded its investigation related to Waldencast's restatement and historical accounting practices at Obagi Cosmeceuticals.

Based on available information, the SEC does not intend to recommend enforcement action. The company said it fully cooperated and incurred substantial legal and advisory costs.

Positive

• SEC does not intend to recommend enforcement action
• Company fully cooperated with the SEC investigation

Negative

• Company previously restated financial results and identified material weaknesses
• Incurring substantial legal, advisory and related costs

Argus Apr 29 session

-2.08% close to close Open Argus

Details

News Market Reaction – WALD

On Apr 29, the first trading day after this news, WALD closed 2.08% below the previous close.

Data tracked by StockTitan Argus for the Apr 29 session.

Historical Context

5 past events · Latest: Mar 24

5 events

1. Mar 24

   Product launch

   24h Move

   -7.4%

   Launch of NU-GEN Cellular Renewal Serum with strong clinical skincare claims.

2. Mar 19

   Clinical collaboration

   24h Move

   -8.3%

   Collaboration with ProMD in ALOHA Program to build real-world evidence.

3. Mar 13

   Earnings results

   24h Move

   +8.2%

   Q4/FY25 results with $272.1M revenue, positive EBITDA and lower net debt.

4. Mar 11

   Earnings timing

   24h Move

   -4.0%

   Announcement of earnings date and no conference call amid strategic review.

5. Feb 27

   Phase 4 program

   24h Move

   -0.6%

   Phase 4 and real-world ALOHA study for Obagi saypha MagIQ with partner clinic.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

u.s. securities and exchange commission, internal control over financial reporting

2 terms

u.s. securities and exchange commission regulatory

"notified by the staff of the U.S. Securities and Exchange Commission (the “SEC”)"

The U.S. Securities and Exchange Commission is a government agency responsible for overseeing the stock market and protecting investors. It sets rules to ensure that companies share truthful information and that trading is fair, helping to maintain trust in the financial system. This oversight is important because it helps prevent fraud and ensures that investors can make informed decisions.

internal control over financial reporting financial

"material weaknesses in its internal control over financial reporting related to"

Internal control over financial reporting is a company’s system of procedures and checks designed to make sure its financial statements are accurate and complete, like a set of guardrails and verification steps that catch mistakes or fraud before numbers are published. Investors care because strong controls make reported results more trustworthy, lower the risk of surprise restatements or regulatory problems, and give greater confidence when valuing the company or comparing it to peers.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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LONDON, April 28, 2026 (GLOBE NEWSWIRE) -- Waldencast plc (NASDAQ: WALD) (“Waldencast” or the “Company”), a global multi-brand beauty and wellness platform, announced today that it was notified by the staff of the U.S. Securities and Exchange Commission (the “SEC”) that they have concluded their investigation of the Company relating to Waldencast’s restatement of its financial results and material weaknesses in its internal control over financial reporting related to historical accounting practices used by Obagi Cosmeceuticals (the “Investigation”) and, based on the information available as of the date of the notice, the SEC does not intend to recommend an enforcement action against Waldencast.

“We are pleased with the favorable outcome of the SEC’s investigation,” stated Michel Brousset, Chief Executive Officer of Waldencast. “Throughout the Investigation, we fully cooperated and dedicated significant resources to the process. At the same time, we maintained our focus on executing our business plans, upholding strong governance, and ensuring robust internal controls.” 

The Investigation was previously disclosed by the Company in its periodic reports under the Securities Exchange Act of 1934, as amended. As previously disclosed, the Company voluntarily contacted the SEC regarding these matters and has fully cooperated with the SEC throughout the course of the Investigation, incurring substantial legal, advisory and other related costs.

About Waldencast plc

Founded by Michel Brousset and Hind Sebti, Waldencast’s ambition is to build a global best-in-class beauty and wellness operating platform by developing, acquiring, accelerating, and scaling conscious, high-growth purpose-driven brands. Waldencast’s vision is fundamentally underpinned by its brand-led business model that ensures proximity to its customers, business agility, and market responsiveness, while maintaining each brand’s distinct DNA. For more information please visit: https://ir.waldencast.com.

Obagi Medical is an industry-leading, advanced skin care line rooted in research and skin biology, refined with a legacy of over 35 years’ experience. Obagi Medical products are designed to address the appearance of premature aging, photodamage, skin discoloration, acne, and sun damage. More information about Obagi Medical is available on the brand’s website at www.obagi.com.

Founded in 2016, Milk Makeup quickly became a cult-favorite among the beauty community for its values of self-expression and inclusion, captured by its signature “Live Your Look”, its innovative formulas, and clean ingredients. The brand creates vegan, cruelty-free, clean formulas and has its Milk Makeup HQ in Downtown NYC. More information about Milk Makeup is available on the brand’s website at www.milkmakeup.com.

Contacts:

Investors
ICR
Allison Malkin
waldencastir@icrinc.com

Media
ICR
Brittney Fraser/Alecia Pulman
waldencast@icrinc.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Waldencast (WALD) announce about the SEC investigation on April 28, 2026?

The SEC has concluded its investigation and does not intend to recommend enforcement action. According to the company, the inquiry related to a prior restatement and accounting practices at Obagi Cosmeceuticals.

Does the SEC conclusion mean Waldencast (WALD) was cleared of wrongdoing?

The SEC said it does not intend to recommend enforcement action based on available information. According to the company, this follows its voluntary contact and full cooperation during the investigation.

What issues were at the center of the SEC investigation into Waldencast (WALD)?

The probe related to a restatement of financial results and material weaknesses in internal control. According to the company, these arose from historical accounting practices at Obagi Cosmeceuticals.

How did Waldencast (WALD) respond during the SEC investigation?

Waldencast says it fully cooperated and dedicated significant resources to the process. According to the company, it also continued executing business plans and strengthening governance and controls.

Will the SEC conclusion affect Waldencast's (WALD) financial statements or controls?

The SEC notice does not change prior restatements or identified control weaknesses. According to the company, the investigation's closure does not replace previously disclosed remediation steps or reporting.