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DEADLINE ALERT for LULU, F, XPEL, EXTR: Law Offices of Howard G. Smith Reminds Investors of Class Actions on Behalf of Shareholders
Globe Newswire 2-Oct-2024 1:29 PM
BENSALEM, Pa., Oct. 02, 2024 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion.
Investors suffering losses on their investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in these class actions at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com.
Lululemon Athletica Inc. (NASDAQ:LULU) Class Period: December 7, 2023 – July 24, 2024 Lead Plaintiff Deadline: October 7, 2024
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company was struggling with inventory allocation issues and color palette execution issues; (2) that, as a result, the Company's Breezethrough product launch underperformed; (3) that, as a result of the foregoing, the Company was experiencing stagnating sales in the Americas region; and (4) that, 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.
Ford Motor Company (NYSE:F) Class Period: October 28, 2021 – July 24, 2024 Lead Plaintiff Deadline: October 7, 2024
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company had deficiencies in its quality assurance of vehicle models since 2022; (2) that, as a result, the Company was experiencing higher warranty costs; (3) that the Company's warranty reserves did not accurately reflect the quality issues in vehicles sold since 2022; (4) that, as a result, the Company's profitability was reasonably likely to suffer; and (5) that, 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.
XPEL, Inc. (NASDAQ:XPEL) Class Period: November 8, 2023 – May 2, 2024 Lead Plaintiff Deadline: October 7, 2024
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose that: (1) XPEL's competitors were siphoning an increasingly large segment of the market; (2) as a result, the Company's revenue growth became increasingly dependent upon existing customers and partners; (3) as a result, the Company's revenue growth for 2023 and 2024 dwindled; and (4) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Extreme Networks, Inc. (NASDAQ:EXTR) Class Period: July 27, 2022 – January 30, 2024 Lead Plaintiff Deadline: October 15, 2024
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose that: (1) that the Company was suffering from adverse client demand trends as its clients had ordered more product from the Company than needed in the wake of the COVID-19 pandemic to avoid supply shortages and because of a lack of alternative sourcing options and thereby had cannibalized their Class Period purchasing needs; (2) that the Company was increasingly offsetting these adverse organic demand trends with the fulfillment of backlog orders in a manner that materially exceeded the proportion represented to investors; (3) that, as a result, the Company was drawing down its backlog at a much faster rate than represented to investors; (4) that, as a result, the Company's backlog was already decreasing and at a much quicker pace than defendants' statements to investors that backlog would only "begin to shrink" in 4Q23 and it would be not until "fiscal ‘26 when it really goes back to normal"; (5) that, as a result, the Company's backlog was not on track to continue increasing to $600 million; and (6) that, as a result, defendants had materially misrepresented the Company's organic demand, revenue growth, and market share gains as the fulfillment of the Company's backlog masked a decline in organic demand and attendant revenues; and (7) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
To be a member of these class actions, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about these class actions, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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