[RummyChick]

SEC investigations...shareholder lawsuits..coming soon

LOLOL

https://www.dailymail.co.uk/tvshowbiz/article-8373587/Kylie-Jenner-refusing-answer-calls-momager-Kris-amid-Forbes-scandal.html

[Cowboy Bob]

Did Coty bother to investigate (due diligence), or did they just take the word of a 22 year old Instagram “influencer?”

[bwest]

“...off it’s billionaire’s list...”

It’s? Really? Are there any editors left at the DM?

[tennmountainman]

The entire family are cons and grifters.

[butlerweave]

Oh No , and who is Kylie Jenner

[SmokingJoe]

Forbes published an article based on an examination of financial filings after the beauty mogul sold a majority share in her cosmetics company.

So why did Forbes declare her a billionaire in the first place for going on 3 years now?

[Aria]

Virtually everything about these women is fake so why didn’t Coty do its due diligence?

[lee martell]

Forbes needs to better verify it’s claims about who has what money. This event makes Forbes look equally shabby.
You can’t blame nameless “interns” for something this off.

[Leaning Right]

I value my collection of ‘Gilligan’s Island’ bubble gum cards at $2.3 billion. So I guess I’ll be taking Jenner’s place on the Forbes billionaire list.

P.S. The Mary Ann card is not for sale. The rest are.

[RoosterRedux]

Coty's investment banking representative should have performed due diligence. I don't know which firm they used in this transaction but Morgan Stanley has represented Coty previously.

The matchmaker for the Coty-Kylie deal was a firm named Tiger Chark (never heard of them).

[DoodleBob]

Company with controlling stake in 22-year-old's cosmetic brand takes a hit after she 'inflated the value of her business' SEC investigations...shareholder lawsuits..coming soon

To be as fair as possible, no firm would pay $600MM without an audit or solvency opinion and due diligence. While Ms. Jenner certainly has some questions to answer, it is just as plausible that her handlers were the inflators. She doesn't strike me as the sharpest pencil in the box.

[CharleysPride]

Holy cow, if they released phony figures, it really won’t matter if they were part of filed documents or not.

Little Ms Rip-Off was clearly trying to defraud her investors. Good luck staying out of the slammer, tuts!

[GnuThere]

Well, maybe she and the Theranos gal can start a billion dollar lemonade stand.

[Osage Orange]

I lost money on COTY...a few months ago.