Press release
Lawsuit filed for Investors in shares of Fox Factory Holding Corp. (NASDAQ: FOXF)
A lawsuit was filed on behalf of investors in Fox Factory Holding Corp. (NASDAQ: FOXF) shares.
Investors who purchased shares of Fox Factory Holding Corp. (NASDAQ: FOXF) have certain options and for certain investors are short and strict deadlines running. Deadline: April 22, 2024. NASDAQ: FOXF investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Duluth, GA based Fox Factory Holding Corp. designs, engineers, manufactures, and markets performance-defining products and system worldwide.
On November 2, 2023, after the markets closed, Fox Factory Holding Corp. 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 Holding Corp. 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 business segment.
Shares of Fox Factory Holding Corp. (NASDAQ: FOXF) declined from $117.68 per share on August 10, 2023, to as low as $54.09 per share on November 10, 2023.
The plaintiff alleges on behalf of purchasers of Fox Factory Holding Corp. (NASDAQ: FOXF) common shares between May 6, 2021 and November 2, 2023, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 6, 2021 and November 2, 2023, the Defendants made misleading statements and omissions regarding the Company's business, financial condition, and prospects, and that the Defendants misled the market concerning demand for Fox Factory's products and inventory levels.
Those who purchased shares of Fox Factory Holding Corp. (NASDAQ: FOXF) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
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 lawsuits, 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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