MBUU Investors Have Opportunity to Lead Malibu Boats, Inc. Securities Fraud Lawsuit
NEW YORK, June 12, 2024 /PRNewswire/ -- Rosen Law Firm reminds investors that a shareholder filed a class action lawsuit on behalf of all persons and entities that purchased or otherwise acquired Malibu Boats, Inc. (Nasdaq: MBUU) securities between November 4, 2022 and April 11, 2024. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by July 28, 2024.
To join the Malibu Boats class action, go to https://rosenlegal.com/submit-form/?case_id=24654 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.
The Rosen Law Firm is investigating allegations that Malibu Boats, Inc. (MBUU) misled investors regarding its business operations.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) 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 Boats ("Tommy's")] dealerships"; (2) as a result, Malibu Boats artificially inflated Malibu Boats' sales performance, market share, and stock value; (3) Malibu Boats was withholding certain incentives and rebates from its dealers; (4) as a result of the foregoing, Malibu Boats faced substantial risk of litigation from one of its top dealers, Tommy's; (5) Malibu Boats' Chief Executive Officer departed due to this role in this scheme; and (6) as a result of the foregoing, defendants' positive statements about Malibu Boats' business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Plaintiff alleges that on April 11, 2024, after the market closed, Malibu Boats revealed that Tommy's had filed a complaint against it, alleging that Malibu Boats "engaged in an elaborate scheme" to "pump nearly $100 million" worth of inventory into Tommy dealerships since late 2022. On this news, Malibu Boats' stock fell.
What Now: You may be eligible to participate in the class action against Malibu Boats, Inc. The deadline to file a motion to be appointed as lead plaintiff is July 28, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, go to https://rosenlegal.com/case/malibu-boats-inc/.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com
SOURCE THE ROSEN LAW FIRM, P. A.
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