Return to Home

Advance Auto Parts, Inc.

AAP

Find Out if You Qualify for a Financial Reward by filling out the form below.

Lead Plaintiff Deadline:
December 08, 2023

Days Left:
-166

calendar

Advance Auto Parts, Inc. Form












Securities Fraud News does not share your information with others. There is no cost or obligation for you to submit.

Allegations

The complaint alleges that defendants made false and/or materially misleading statements that: 1) misrepresented the efficacy of AAP’s strategic pricing initiative and the impact of price reductions; 2) omitted and/or concealed the negative impacts of the pricing initiative; 3) provided investors with an overly optimistic perception of AAP’s operations; and 4) created the false impression that inflation and macroeconomic factors had an insubstantial impact on the Company’s margins. On May 31, 2023, AAP held its quarterly earnings call for 2023 first quarter. During that call, President and CEO Thomas R. Greco (“Greco”) conceded, “our financial results in the first quarter were well below expectations.” Because the Company slashed prices on products, Greco stated “we had less price realization than plans, which put substantially higher pressure on our product margin price.” Executive Vice President and Chief Financial Officer, Jeffrey W. Shepherd revealed during the May call that the Company’s strategic pricing program resulted in the Company being “unable to price to cover product costs in the quarter.” The Company consequently revised downward its 2023 guidance to an operating margin of 5% to 5.3% from the previously announced 7.8% to 9.2% margins. Following this news, the Company’s stock price fell by $39.31 per share, from $112.20 per share to $72.89 per share on May 31, 2023.

Eligibility

In order to be included in the lawsuit, you must have incurred a loss on shares of AAP purchased or acquired during the class period listed above.

Lead Plaintiff Deadline

If you suffered a loss in AAP during the relevant time frame, you have until December 08, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Find More Cases

Ticker Symbol Company Name Join Deadline
EVLV Evolv Technologies Holdings, Inc. May 24, 2024 Join
BLUE bluebird bio, Inc. May 28, 2024 Join
LUNA Luna Innovations Incorporated May 31, 2024 Join
HRT HireRight Holdings Corporation June 03, 2024 Join
VFS VinFast Auto Ltd. f/k/a Black Spade Acquisition Co. June 11, 2024 Join
QDEL QuidelOrtho Corporation f/k/a Quidel Corporation June 11, 2024 Join
PERI Perion Network Ltd. June 17, 2024 Join
ASTS AST SpaceMobile, Inc. June 17, 2024 Join
RIVN Rivian Automotive, Inc. June 18, 2024 Join
SHCR Sharecare, Inc. June 18, 2024 Join
SHCR Sharecare, Inc. June 18, 2024 Join
GDRX GoodRx Holdings, Inc. June 21, 2024 Join
LNC Lincoln National Corporation June 24, 2024 Join
CMP Compass Minerals International, Inc. June 24, 2024 Join
ADSK Autodesk, Inc. June 24, 2024 Join
AKRO Akero Therapeutics, Inc. June 25, 2024 Join
MBUU Malibu Boats, Inc. June 28, 2024 Join
GL Globe Life Inc. f/k/a Torchmark Corporation July 01, 2024 Join
EQIX Equinix, Inc. July 01, 2024 Join
ALT Altimmune, Inc. July 05, 2024 Join
AXTI AXT, Inc. July 05, 2024 Join
LI Li Auto Inc. July 09, 2024 Join
SPT Sprout Social, Inc. July 12, 2024 Join
NARI Inari Medical, Inc. July 12, 2024 Join
UNH UnitedHealth Group Inc. July 15, 2024 Join
TDOC Teladoc Health, Inc. July 16, 2024 Join