NEW
YORK, March 26, 2024 /PRNewswire/ -- 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:
https://securitiesclasslaw.com/securities/fox-factory-loss-submission-form/?id=72589&from=4
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=72589&from=4
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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SOURCE The Gross Law Firm