TORI BELLE CORP.
has been fined $250,000 after it was found to be misleading consumers about its expiration date on cosmetics, according to a court document filed Friday.
The cosmetics giant has been accused of misleading consumers on its expiration dates for several years.The company has a reputation for being very accurate on its website about when cosmetics are expected to expire.
It also posted the expiration dates on its corporate website and on its Facebook page, according the document.
The company told CBC News it is committed to updating its website and social media platforms to reflect its current policy.”The Canadian Consumer Product Safety Commission and the Canadian Securities Administrators (CASA) have taken action against TORIbelle cosmetics to stop this deceptive and fraudulent practice,” said the company in a statement.
The CASA alleges that the company failed to update its website, social media and advertising to make the information clear that cosmetics are not expected to last for more than six months.In its lawsuit against TORISELLE CORPORATION, the CASA accuses the cosmetics company of violating securities law by failing to maintain accurate records regarding expiration dates.According to the CASAs complaint, TORISELLLE CORp.
advertised its cosmetics as being at least six months old when in fact it was actually two years old.
The cosmetics company also posted misleading and misleading advertising on its web pages about the expiration date of its products.TORI BELLLE CORPS alleged that TORISELSELLE CONSUMER PRODUCTS INC.
and TORISELYA CORPORATIONS failed to comply with the provisions of the Securities Act.
In addition, the company also allegedly failed to disclose to the public and to the regulators that it has a “substantial risk of a product failure or failure to maintain” its cosmetics, and that it is subject to the requirement to update the expiration information.TORISELLETLE CORPO filed the complaint on behalf of the CASCA on Sept. 12, 2018, against TOR ISELLE COMPANY, TORIBLESELLE CONCENTRATE CORPORATE, TOR ILLINOIS CORPORATES INC., TORIELLE INC., AND TORI BELLA CORP., alleging that they have violated the Securities Exchange Act, the Securities Purchase Agreement and the Ontario Securities Purchase Act.