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Globe Newswire 19-Sep-2023 1:01 PM
NEW YORK, Sept. 19, 2023 (GLOBE NEWSWIRE) -- Attention Hayward Holdings, Inc. ("Hayward") (NYSE:HAYW) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors who purchased between March 2, 2022 and July 27, 2022.
If you suffered a loss on your investment in Hayward, contact us about potential recovery by using the link below. There is no cost or obligation to you.
ABOUT THE ACTION: The class action against Hayward includes allegations that the Company made 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
Aggrieved Hayward investors only have until October 2, 2023 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
Vincent Wong, Esq.
39 East Broadway
New York, NY 10002