LOS ANGELES, June 25, 2024 /PRNewswire/ — Glancy Prongay & Murray LLP (“GPM”) announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Malibu Boats, Inc. (“Malibu Boats” or the “Company”) (NASDAQ: MBUU).
Class Period: November 4, 2022 – April 11, 2024
Lead Plaintiff Deadline: June 28, 2024
If you wish to serve as lead plaintiff of the Malibu Boats lawsuit, you can submit your contact information at www.glancylaw.com/cases/Malibu-Boats-Inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.
The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors: (1) that Malibu Boats 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) that, as a result, the Company artificially inflated Malibu’s sales performance, market share, and stock value; (3) that the Company was withholding certain incentives and rebates from its dealers; (4) that, as a result of the foregoing, the Company faced substantial risk of litigation from one of its top dealers, Tommy’s; (5) that the Company’s CEO departed due to this role in this scheme; and (6) 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.
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To be a member of the class action 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 this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
ContactsGlancy Prongay & Murray LLP, Los AngelesCharles Linehan, 310-201-9150 or 888-773-9224
[email protected]
www.glancylaw.com
SOURCE Glancy Prongay & Murray LLP
