Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, April 15, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Fox Factory Holding Corp. (“Fox Factory” or the “Company”) (NASDAQ:FOXF) investors that a lawsuit was filed on behalf of investors that purchased Fox securities between May 6, 2021 and November 2, 2023, inclusive (the “Class Period”).
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On November 2, 2023, Fox Factory announced in a Form 8-K filing with the SEC that its net sales for the third quarter of the fiscal year 2023 had fallen by 19.1% compared to the same period the previous year. This decline was attributed to "higher levels of inventory across various channels." Moreover, Fox Factory reduced its full-year sales forecast from the initial range of $1.67 billion to $1.70 billion, down to between $1.45 billion and $1.47 billion. The company cited ongoing inventory destocking within its specialty sports group business segment as the reason for this adjustment. Following this announcement, the share price of Fox Factory plummeted by $22.60, or approximately 37.3%, dropping from $83.13 per share on November 2, 2023, to close at $60.53 on November 3, 2023.
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The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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