Malibu Boats, Inc. Investors: Class action lawsuit filed on behalf of investors; the Portnoy Law Firm

Globe Newswire 11-Jun-2024 12:53 PM

Investors can contact the law firm at no cost to learn more about recovering their losses

LOS ANGELES, June 11, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Malibu Boats, Inc. ("Malibu Boats" or the "Company") (NASDAQ:MBUU) investors that a class action has been filed on behalf of investors. Malibu Boats investors that purchased and/or sold shares between November 4, 2022 and April 11, 2024 and lost money on their investment are encouraged to contact Lesley Portnoy, Esq.

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.

The filed complaint alleges that defendants made false statements and/or concealed that: (1) Malibu Boats had engaged in an "elaborate scheme to over manufacture and pump nearly $100 million of its highest priced, highest margin, slow moving boat inventory into fifteen Tommy's dealerships"; (2) as a result, the Company artificially inflated Malibu's sales performance, market share, and stock value; (3) the Company was withholding certain incentives and rebates from its dealers; (4) as a result of the foregoing, the Company faced substantial risk of litigation from one of its top dealers, Tommy's; (5) the Company's CEO departed due to his role in this scheme; and (6) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims against 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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