A lawsuit was filed on behalf of investors in Advance Auto Parts, Inc. (NYSE:AAP) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 02/22/2018 -- The Shareholders Foundation announces that an investor, who purchased shares of Advance Auto Parts, Inc. (NYSE:AAP), filed a lawsuit over alleged Securities Laws violations by Advance Auto Parts, Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Advance Auto Parts, Inc. (NYSE:AAP) have certain options and for certain investors are short and strict deadlines running. Deadline: April 9, 2018. NYSE:AAP investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
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 August 15, 2017, Advance Auto Parts, Inc reported its second quarter fiscal 2017 financial and operational results and disclosed that "[c]omparable store sales for the quarter were flat." Additionally, Advance Auto reduced its financial and operational guidance for fiscal 2017. Shares of Advance Auto Parts, Inc. (NYSE:AAP) declined from $174.79 per share in January 2017 to as low as $79.38 per share in November 2017.
Those who purchased shares of Advance Auto Parts, Inc. (NYSE:AAP) have certain options and should contact the Shareholders Foundation.
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