Cision PR Newswire
SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of Hayward Holdings, Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of October 2, 2023 - (NYSE: HAYW)
News provided byThe Gross Law Firm
Sep 19, 2023, 5:45 AM ET
NEW YORK, Sept. 19, 2023 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Hayward Holdings, Inc..
Shareholders who purchased shares of HAYW during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
CONTACT US HERE:
CLASS PERIOD: March 2, 2022 to July 27, 2022
ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (a) Hayward and its management had engaged in a channel-stuffing scheme designed to artificially boost Hayward's short-term sales and earnings; (b) Hayward had flooded its channel partners with inventory that they did not want or need at a level that far outpaced then-existing consumer demand; (c) Hayward's channel partners were suffering from an inventory glut as a result of the channel-stuffing scheme that would require a massive destocking in the second half of 2022; (d) Hayward's channel-stuffing scheme had cannibalized future sales, materially impairing the Company's ability to sell to its customers; (e) the demand for pool equipment had slowed down, which, combined with flooding channel partners with more inventory, led to an inventory glut and the need for these channel partners to reduce inventory levels; and (f) as a result of (a)-(e) above, Hayward's projected 2022 financial results were not achievable and lacked a reasonable basis in fact.
DEADLINE: October 2, 2023 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/hayward-loss-submission-form-2/?id=48613&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of HAYW during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is October 2, 2023. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Phone: (646) 453-8903
View original content:https://www.prnewswire.com/news-releases/shareholder-alert-the-gross-law-firm-notifies-shareholders-of-hayward-holdings-inc-of-a-class-action-lawsuit-and-a-lead-plaintiff-deadline-of-october-2-2023--nyse-hayw-301931045.html
SOURCE The Gross Law Firm
NOTE: This content is not written by or endorsed by "WPRI", its advertisers, or Nexstar Media Inc.