LONDON, April  28, 2026  (GLOBE NEWSWIRE) -- Waldencast plc (NASDAQ:WALD) (&#34;Waldencast&#34; or the &#34;Company&#34;), a global multi-brand beauty and wellness platform, announced today that it was notified by the staff of the U.S.

WALD

Waldencast announces conclusion of SEC investigation

Waldencast SEC Investigation Concludes Favorably Without Enforcement Action

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  <section data-block="information">
    <h3>Information</h3>
    <p>LONDON, April  28, 2026  (GLOBE NEWSWIRE) -- Waldencast plc (NASDAQ:WALD) (&amp;#34;Waldencast&amp;#34; or the &amp;#34;Company&amp;#34;), a global multi-brand beauty and wellness platform, announced today that it was notified by the staff of the U.S.</p>
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  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Waldencast plc&#039;s SEC investigation has concluded favorably, with no recommended enforcement actions. This outcome should restore investor confidence in Waldencast&#039;s financial governance and management practices following the investigation into historical accounting issues tied to Obagi Cosmeceuticals.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Waldencast&#039;s SEC investigation concluded without recommended action against the company.</li><li>CEO Michel Brousset highlighted strong governance during the investigation.</li><li>The company had voluntarily contacted the SEC and cooperated fully.</li><li>Waldencast incurred substantial costs during the investigation.</li><li>The outcome may improve investor confidence in Waldencast&#039;s governance.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Obagi Cosmeceuticals (OBAG)</strong>: Accounting practices of Obagi were central to Waldencast&#039;s SEC investigation.</li></ul>
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  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This news falls under Corporate Developments as it illustrates Waldencast&#039;s management effectiveness in navigating SEC scrutiny, which can enhance its market perception and credibility within the beauty and wellness sector.</p>
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  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>All signs of regulatory resolution generally lead to stock price increases.</li><li>Improved investor sentiment may enhance trading volumes.</li><li>The absence of enforcement action alleviates potential legal risks.</li><li>Continued operational focus could drive positive growth in the next quarters.</li></ul>
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  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Waldencast was under SEC investigation regarding financial restatements.</li><li>The SEC concluded the investigation on April 28, 2026.</li><li>Waldencast fully cooperated with the SEC during the investigation.</li><li>CEO Michel Brousset emphasized strong governance throughout the process.</li><li>Significant legal and advisory costs were incurred due to the investigation.</li></ul>
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  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>WALD could experience upward momentum due to increased investor confidence short term.</p>
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<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p>LONDON, April  28, 2026  (GLOBE NEWSWIRE) -- Waldencast plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/WALD">WALD</a>) ("<u>Waldencast</u>" or the "<u>Company</u>"), 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 "<u>SEC</u>") 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 "<u>Investigation</u>") 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.</p>  <p>"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." </p>  <p>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.</p>  <p><strong>About Waldencast plc</strong></p>  <p align="justify">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: <a href="https://ir.waldencast.com" title="https://ir.waldencast.com">https://ir.waldencast.com</a>.</p>  <p align="justify">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 <a href="http://www.obagi.com" title="www.obagi.com">www.obagi.com</a>.</p>  <p align="justify">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 <a href="http://www.milkmakeup.com" title="www.milkmakeup.com">www.milkmakeup.com</a>.</p>  <p><strong>Contacts:</strong></p>  <p><strong>Investors</strong><br></br>ICR<br></br>Allison Malkin<br></br>waldencastir@icrinc.com</p>  <p><strong>Media</strong><br></br>ICR<br></br>Brittney Fraser/Alecia Pulman<br></br>waldencast@icrinc.com</p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTcwOTAzOCM3NTcxNzgwIzIyMjUzNDY="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/NjZlNmM2OWYtNTQwZC00MGMxLTk2NmYtZWQxNTg0MTQ5MDdhLTEyMzY4OTktMjAyNi0wNC0yOC1lbg==/tiny/Waldencast-plc-.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/b627cdd5-09af-4bd4-8b16-25f629cf422e"><img src="https://ml.globenewswire.com/media/b627cdd5-09af-4bd4-8b16-25f629cf422e/small/waldencast-logo-png.png" border="0" width="150" height="18" alt="Primary Logo"></img></a></p>

Waldencast plc's SEC investigation has concluded favorably, with no recommended enforcement actions. This outcome should restore investor confidence in Waldencast's financial governance and management practices following the investigation into historical accounting issues tied to Obagi Cosmeceuticals.

Waldencast announces conclusion of SEC investigation

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