HAVE YOU HELD ADVANCE AUTO PARTS, INC. (NYSE: AAP) SHARES SINCE AT LEAST NOVEMBER 2016?
Grabar Law Office is investigating a potential shareholder derivative action against certain officers and directors of $AAP for possible breaches of fiduciary duty related to the company’s allegedly false and misleading statements about its financial performance based on an underlying securities class action alleging that the company made false and misleading statements beginning in November 2016. On August 15, 2017, the officers finally rescinded the false guidance and the stock price plummeted, losing more than 20% of its value in a single day. The Judge recently denied Advance Auto Parts’ motion to dismiss the securities class complaint, in part, finding that the complaint adequately alleged that the company and its officers violated federal securities laws.
Current Advance Auto Parts shareholders who purchased shares of the Company’s stock prior to November 1, 2016 have standing to seek corporate governance reforms, the return of funds back to company coffers and potentially a court approved incentive award if appropriate.
If you want to learn more about this action message me here or at [email protected].
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