Kirby McInerney LLP Advises Advance Auto Parts, Inc. Investors of Potential Claims
February 08 2018 - 4:27PM
Business Wire
The law firm of Kirby McInerney LLP announced today that a class
action lawsuit has been filed in the United States District Court
for the District of Delaware against Advance Auto Parts, Inc.
(“Advance Auto Parts” or the “Company”) (NYSE:AAP) on behalf of
investors that acquired Advance Auto Parts securities during the
period between November 14, 2016 and August 15, 2017, inclusive
(the “Class Period”), seeking recovery of damages for alleged
violations of the federal securities laws. Pursuant to applicable
law, investors have until April 9, 2018, to apply to the Court to
be appointed as lead plaintiff in the lawsuit.
On August 15, 2017, Advance Auto Parts released its second
quarter results, revealing flat comparable store sales for the
quarter and reductions in financial and operational guidance for
fiscal year 2017. The Complaint alleges that prior to this release,
the Company failed to disclose that a recent acquisition had led to
systemic inefficiencies and increased competition which negatively
depressed sales.
On this news, shares of Advance Auto Parts fell from $109.32 to
close at $87.08 on August 15, 2017 (a total decline of $22.24 per
share).
If you purchased or otherwise acquired Advance Auto Parts
securities during the Class Period, have information, or would like
to learn more about these claims, please contact Thomas Elrod of
Kirby McInerney LLP at 212-371-6600, or by filling out this contact
form, to discuss your rights or interests with respect to these
matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm
concentrating in securities, antitrust, whistleblower, and consumer
litigation. Additional information about the firm or the claims
against Advance Auto Parts can be found at Kirby McInerney’s
website: http://www.kmllp.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20180208006461/en/
Kirby McInerneyThomas Elrod, Esq.,
212-371-6600telrod@kmllp.comhttps://www.kmllp.com
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