Securities Class Action Lawsuit Filed Against Malibu Boats, Inc. (MBUU)Securities Class Action Lawsuit Filed Against Malibu Boats, Inc. (MBUU) Levi & Korsinsky, LLP is investigating Malibu Boats, Inc. (NASDAQ: MBUU) for potential securities law violations. The lawsuit alleges that Malibu Boats made false and misleading statements to investors regarding its financial performance and business practices. Class Period: November 4, 2022 – April 11, 2024 Allegations: * Malibu Boats engaged in an elaborate scheme to artificially inflate its sales performance and stock value by funneling slow-moving inventory to certain dealers. * The company withheld incentives and rebates from dealers, putting the company at risk of litigation. * The company’s CEO left due to his involvement in the scheme. * As a result, the company’s positive statements about its business were materially misleading. Affected Investors: Investors who purchased MBUU shares during the class period may be eligible to participate in the lawsuit. Deadline: Investors have until June 28, 2024 to request to be appointed as lead plaintiff. Contact: If you are an affected investor, you can contact Levi & Korsinsky, LLP: * By email: (email protected) * By phone: (212) 363-7500 * Online form: https://zlk.com/pslra-1/malibu-boats-inc-lawsuit-submission-form About Levi & Korsinsky, LLP: Levi & Korsinsky, LLP is a leading securities class action law firm with a proven track record of securing substantial recoveries for injured shareholders. The firm has over 70 employees and has been consistently ranked among the top 50 securities law firms in the United States.
NEW YORK, June 26, 2024 /PRNewswire/ — Levi & Korsinsky, LLP briefs investors Malibu Boats, Inc. (“Malibu Boats” or the “Company”) (NASDAQ: MBUU) from a securities class action lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Malibu Boats investors who have been adversely affected by so-called effects fraud between November 4, 2022 And April 11, 2024. For more information and to be contacted by a member of our team, follow the link below:
Malibu Boats Lawsuit Submission Form
MBUU investors can also contact us Joseph E. Levi, Esq. via email at (email protected) or by phone at (212) 363-7500.
CASE DETAILS: The complaint submitted claims that defendants made false statements and/or concealed that: (1) Malibu Boats had engaged in an “elaborate scheme to obtain nearly $100 million of its highest-priced, slow-moving, highest-margin boat inventory to fifteen Tommy’s dealers”; (2) as a result, the company artificially inflated Malibu’s sales performance, market share, and stock value; (3) the company withheld certain incentives and rebates from its dealers; (4) as a result of the foregoing, the Company was at significant risk of litigation by one of its top dealers, Tommy’s; (5) the Company’s CEO left because of his role in this scheme; foregoing, Defendants’ positive statements about the Company’s business, operations and prospects were materially misleading and/or lacked a reasonable basis.
WHAT’S NEXT? If you suffered a loss at Malibu Boats during the relevant period, you have up to June 28, 2024 to request the court to appoint you as lead plaintiff. Your ability to share in any recovery does not require you to serve as lead plaintiff.
NO COST TO YOU: If you belong to the group, you may be entitled to compensation without having to pay any costs or fees. There are no costs or obligations associated with participation.
WHY LEVI & KORSINSKY: Over the past two decades, the Levi & Korsinsky team has secured hundreds of millions of dollars for injured shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise in representing investors in complex securities litigation and has a team of more than 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has been ranked in the ISS Securities Class Action Services Top 50 Report as one of the best law firms in the field of securities law. the United States.
CONTACT:
Levi & Korsinski, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th floor
New York, NY 10004
(email protected)
Phone: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP
