GRABAR LAW OFFICE INVESTIGATES CLAIMS ON BEHALF OF SHAREHOLDERS OF STANLEY BLACK & DECKER, INC. (NYSE: SWK)
Stanley Black & Decker, Inc. is a global manufacturer of hand tools, power tools, and outdoor products for consumer and commercial customers, as well as engineered fastening systems for industrial customers. Over the last few years, Stanley Black & Decker implemented a “corporate simplification” to spin off some of its business units and focus Company investments and attention into two main business segments: Tools & Outdoor, and Industrial.
A recently filed securities fraud class action Complaint alleges that Stanley made materially false and/or misleading statements and/or failed to disclose that: i) rising interest rates, inflation, and trends in returning to work away from home were in fact quickly eroding demand for Stanley's tools and outdoor products; (ii) the heightened, extraordinary demand Stanley had enjoyed as a result of the COVID-19 pandemic in 2021 into 2022 no longer existed; (iii) Stanley's operations were already showing signs of slowing demand; (iv) as a result of reorganization, share repurchasing, and dividend growth, Stanley lacked the cash to react with agility to changes in demand; and (v) as a result of Stanley's inability to react to a sharp decline in demand, the Company's results and metrics, particularly sales volume, were severely negatively impacted.
Current Stanley shareholders who have held Stanley stock since on or before October 28, 2021, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them.
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