PR Newswire
NEW YORK, March 20, 2024
NEW YORK, March 20, 2024 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Fox Factory Holding Corp. ("Fox Factory" or the "Company") (NASDAQ: FOXF). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Fox Factory and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until April 22, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Fox Factory securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
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, citing "higher levels of inventory across various channels." In addition, Fox Factory cut its full-year sales guidance from between $1.67 billion and $1.70 billion to between $1.45 billion and $1.47 billion, citing continued inventory destocking in its SSG segment.
On this news, Fox Factor's stock price fell $22.60 per share, or 37.34%, to close at $60.53 per share on November 3, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
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SOURCE Pomerantz LLP
