Revolution Beauty, a troubled beauty business, is facing additional challenges with its decision to take legal action against its founder and former CEO, Adam Minto. This news comes amidst other issues for the company, including pressure from major shareholder Boohoo Group to gain more control over the business.

The legal claim against Minto alleges that he breached several duties to the company, including fiduciary, statutory, contractual, and tortious duties. These alleged breaches reportedly contributed to delays in the audit of Revolution Beauty’s FY22 results and the suspension of its shares from trading on AIM.

Revolution Beauty aims to recover significant sums of money related to the exceptional costs incurred due to these alleged breaches. However, Minto has not responded to the company’s letter of claim sent on 19 May.

The seriousness of these matters has been emphasized by Revolution Beauty, as they acknowledge the uncertainty surrounding the outcome of the legal proceedings. Shareholders will be kept informed of any developments as they arise.

Shares of Revolution Beauty remain suspended from trading due to accounting issues and the disclosure of unacceptable business practices. Boohoo Group, which holds around 26.6% of the company, is demanding leadership changes. The upcoming annual general meeting is expected to address these issues and may be eventful.

The challenges faced by Revolution Beauty serve as a reminder of the ongoing uncertainty and difficulties in the beauty industry. This new legal action further complicates the company’s efforts to restore stability and rebuild its reputation. Shareholders and industry observers will be closely monitoring the progress of the legal proceedings and any potential leadership changes as the situation continues to unfold.

Useful references:
– [Link 1: Revolution Beauty’s Official Website](https://www.revolutionbeauty.com)
– [Link 2: Boohoo Group’s Official Website](https://www.boohooplc.com)