SAN DIEGO, May 16, 2023 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP is investigating G-III Apparel Group Ltd. (NASDAQ: GIII), Hayward Holdings, Inc. (“Hayward” or the “Company”) (NYSE: HAYW), FOXO Technologies Inc. (NYSE_AM: FOXO), Veradigm Inc. (NASDAQ: MDRX) any of its executive officers, or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. The investigation focuses on investors' losses and whether they may be recovered under federal securities laws.
What actions may I take at this time? If you purchased common stock and suffered significant losses on your investment, join our investigation now:
G-III Apparel Group Ltd: https://www.johnsonfistel.com/investigations/g-iii-apparel-group-ltd
Hayward Holdings, Inc: https://www.johnsonfistel.com/investigations/hayward-holdings-inc
FOXO Technologies Inc: https://www.johnsonfistel.com/investigations/foxo-technologies-inc
Veradigm Inc: https://www.johnsonfistel.com/investigations/veradigm-inc
G-III Apparel Group Ltd:
On December 1, 2022, G-III announced third-quarter operating results. Morris Goldfarb, G-III’s Chairman, and CEO stated that “higher inventory levels are due to our accelerated production calendar, which was in anticipation of longer supply chain lead times. Our inventory is comprised of current purchases and guided by our order book. During the quarter, the higher inventory levels caused logistical challenges within our distribution centers. This resulted in significant one-time charges in the third quarter, that were above our expectations, which adversely impacted our bottom line by approximately $0.40 per diluted share”.
Hayward Holdings, Inc:
Hayward announced on July 28, 2022, that it was expecting its channel partners to reduce its inventory on hand by approximately 4 to 6 weeks in the second half of 2022. Consequently, the company revised its full-year 2022 outlook, anticipating a decline in net sales between 2% and 6% year-over-year, in contrast to its earlier forecast of net sales growth between 9% and 12% year-over-year.
FOXO Technologies Inc:
On March 20, 2023, FOXO Technologies disclosed that the SEC is investigating the company. The purpose of the investigation seeks documentation regarding Jon Sabes’ termination as CEO and Steven Sabes' termination as COO.
Veradigm Inc:
On February 28, 2023, the company announced that it “detected certain internal control failures related to revenue recognition that have occurred over the prior six quarters, resulting in a misstatement to reported revenues during those periods.” As a result, the Company reported that it expects “a reduction in revenue from continuing operations of approximately $20 million in the aggregate from what it otherwise reported since the 3rd quarter of 2021 and expected to report for the 4th quarter of 2022.” The company stated further that it is “continuing to evaluate the materiality of the misstatement to determine if the full amount of this adjustment will flow through in the 4th quarter of 2022 or if prior periods will also require adjustment.”
Or for more information, contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471
There is no cost or obligation to you.
What if I have relevant nonpublic information? Individuals with nonpublic information regarding the company should consider whether to assist our investigation or take advantage of the SEC Whistleblower program. Under the SEC program, whistleblowers who provide original information may, under certain circumstances, receive rewards totaling up to thirty percent of any successful recovery made by the SEC. For more information, contact Jim Baker at (619) 814-4471 or jimb@johnsonfistel.com.
Contact:
Johnson Fistel, LLP
Jim Baker, Lead Securities Analyst
Telephone: (619) 814-4471
Email: jimb@johnsonfistel.com
