Malibu Boats, Inc. (NASDAQ: MBUU) shareholders have been advised to reach out to The Gross Law Firm before June 28, 2024, to discuss their rights. The law firm has issued a notice encouraging shareholders who purchased MBUU shares during the class period between November 4, 2022, and April 11, 2024, to consider possible lead plaintiff appointment. It is important to note that appointment as lead plaintiff is not necessary to participate in any potential recovery.
The complaint alleges that during the mentioned class period, Malibu Boats engaged in an alleged scheme to over manufacture and pump nearly $100 million of its highest priced, highest margin, slow-moving boat inventory into fifteen Tommy’s dealerships. It is further alleged that this action artificially inflated Malibu’s sales performance, market share, and stock value. The complaint also claims that the company withheld certain incentives and rebates from its dealers, which led to a substantial risk of litigation from one of its top dealers, Tommy’s. Additionally, the departure of the company’s CEO is said to be related to his involvement in this alleged scheme. The complaint argues that defendants’ positive statements about the company’s business, operations, and prospects were materially misleading and lacked a reasonable basis.
Shareholders are advised not to delay in registering for this class action and can do so by visiting the provided link. Once registered, shareholders who purchased MBUU shares during the specified timeframe will be enrolled in a portfolio monitoring software that provides status updates throughout the case’s lifecycle. The deadline to seek to be a lead plaintiff is June 28, 2024. It is important to note that there is no cost or obligation for shareholders to participate in this case.
The Gross Law Firm, a nationally recognized class action law firm, is dedicated to protecting the rights of investors who have suffered due to deceit, fraud, and illegal business practices. The firm aims to ensure that companies adhere to responsible business practices and engage in good corporate citizenship. In cases where false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company’s stock, the firm seeks recovery on behalf of investors who incurred losses. It is important to remember that prior results do not guarantee similar outcomes.
For more information or to contact The Gross Law Firm, shareholders can refer to the provided contact details.
Overall, it is crucial for shareholders of Malibu Boats, Inc. to be aware of their rights and take appropriate action to protect their investments. The Gross Law Firm is available to provide guidance and support during this process.