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Investigation announced for Long-Term Investors in shares of Advance Auto Parts, Inc. (NYSE: AAP)

06-02-2020 06:41 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors in Advance Auto Parts, Inc. (NYSE: AAP) shares over potential wrongdoing.

An investigation on behalf of investors in Advance Auto Parts, Inc. (NYSE: AAP) shares over potential wrongdoing.

An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Advance Auto Parts, Inc.

Investors who purchased shares of Advance Auto Parts, Inc. (NYSE: AAP) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Advance Auto Parts, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.

On February 06, 2018, a lawsuit was filed against Advance Auto Parts, Inc. (NYSE: AAP) over alleged violations of Federal Securities Laws. The plaintiff claims that between November 14, 2016 and August 15, 2017, the defendants made materially false and/or misleading statements and/or failed to disclose that integration issues surrounding Advance Auto's Carquest acquisition resulted in systemic inefficiencies and cannibalization of sales, that increased competition was negatively impacting sales, and that as a result, defendants' statements about Advance Auto's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On January 25, 2019 an amended Complaint was filed and on April 12, 2019, the defendants filed a Motion to Dismiss the amended Complaint.

On February 7, 2020, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.

Those who purchased shares of Advance Auto Parts, Inc. (NYSE: AAP) have certain options and should contact the Shareholders Foundation.

Media Contact:
Christopher Clausen
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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