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Investigation Details
Jehoshaphat Research published a report on May 21, 2024, alleging, among other things, that Toro “has borrowed revenues and earnings from the future by selling excessive product into its dealer channel” and that the Company “set up a cliff” in its near-term operating cash flows worth $400 million or more.
Following this news, Toro’s stock price dropped over 3% the same day.
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