NEW YORK, March 11, 2024 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP:
- Do you, or did you, own shares of Fox Factory Holding Corp. (NASDAQ: FOXF)?
- Did you purchase your shares between May 6, 2021 and November 2, 2023, inclusive?
- Did you lose money in your investment in Fox Factory Holding Corp?
- Do you want to discuss your rights?
Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action lawsuit that has been filed on behalf of investors who purchased or acquired the common stock of Fox Factory Holding Corp. (“Fox Factory” or the “Company”) (NASDAQ: FOXF) between May 6, 2021 and November 2, 2023, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Northern District of Georgia and alleges violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased or acquired Fox Factory common stock, and/or would like to discuss your legal rights and options please visit Fox Factory Holding Corp. Shareholder Class Action Lawsuit or contact Investor Relations Manager Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.
If you wish to serve as lead plaintiff, you must move the Court no later than April 22, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
According to the Complaint, Fox Factory engineers, manufactures, and markets high-performance suspension products for numerous applications throughout the world. The majority of the Company’s sales come from suspension and related products for high-end mountain bikes, which fall within the Specialty Sports Group (“SSG”) segment.
On November 2, 2023, after the markets closed, Fox Factory reported 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 SSG segment.
On this news, Fox Factory’s stock price fell $22.60, or 37.34%, to close at $60.53 per share on November 3, 2023.
If you wish to serve as lead plaintiff, you must move the Court no later than April 22, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased or acquired Fox Factory common stock, and/or would like to discuss your legal rights and options please visit Fox Factory Holding Corp. Shareholder Class Action Lawsuit or contact Investor Relations Manager Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for sixteen consecutive years.
ATTORNEY ADVERTISING. © 2024 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Contact Information:
Peter Allocco
Investor Relations Manager
Bernstein Liebhard LLP
https://www.bernlieb.com
(212) 951-2030
pallocco@bernlieb.com
