NEW YORK, April 03, 2024 (GLOBE NEWSWIRE) — The Gross Law Firm issues the following notice to shareholders of Fox Factory Holding Corp. (NASDAQ: FOXF).
Shareholders who purchased shares of FOXF during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
CONTACT US HERE:
CLASS PERIOD: May 6, 2021 to November 2, 2023
ALLEGATIONS: According to the filed complaint, defendants made misleading statements and omissions regarding the Company’s business, financial condition, and prospects, particularly with regard to demand for Fox Factory’s products and inventory levels. Specifically, the complaint alleges that on November 2, 2023, after the markets closed, Fox Factory filed a Form 8-K with the SEC, reporting that its net sales for the third quarter of fiscal year 2023 decreased 19.1% year-over-year due to “higher levels of inventory across various channels.” In addition, Fox Factory cut its full-year sales guidance from between $1.67B and $1.70B to between $1.45B and $1.47B, citing continued inventory destocking in its Specialty Sports Group segment. On this news, the price of Fox Factory’s common stock declined $22.60, or 37.34%, to close at $60.53 per share on November 3, 2023.
DEADLINE: April 22, 2024 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/fox-factory-loss-submission-form/?id=73868&from=3
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of FOXF during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is April 22, 2024. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company’s stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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