NEW YORK, Sept. 06, 2023 (GLOBE NEWSWIRE) -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Hayward Holdings, Inc. (NYSE: HAYW) alleging that the Company violated federal securities laws.
Class Period: March 2, 2022 to July 27, 2022
Lead Plaintiff Deadline: October 2, 2023
No obligation or cost to you.
Learn more about your recoverable losses in HAYW:
https://www.kleinstocklaw.com/pslra-1/hayward-lawsuit-loss-submission-form-2?id=46495&from=3
Hayward Holdings, Inc. NEWS - HAYW NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Hayward Holdings, Inc. made materially false and/or misleading statements and/or failed to disclose that: (a) Hayward and its management had engaged in a channel-stuffing scheme designed to artificially boost Hayward’s short-term sales and earnings; (b) Hayward had flooded its channel partners with inventory that they did not want or need at a level that far outpaced then-existing consumer demand; (c) Hayward’s channel partners were suffering from an inventory glut as a result of the channel-stuffing scheme that would require a massive destocking in the second half of 2022; (d) Hayward’s channel-stuffing scheme had cannibalized future sales, materially impairing the Company’s ability to sell to its customers; (e) the demand for pool equipment had slowed down, which, combined with flooding channel partners with more inventory, led to an inventory glut and the need for these channel partners to reduce inventory levels; and (f) as a result of (a)-(e) above, Hayward’s projected 2022 financial results were not achievable and lacked a reasonable basis in fact.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Hayward you have until October 2, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Hayward securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the HAYW lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/hayward-lawsuit-loss-submission-form-2?id=46495&from=3.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
535 Fifth Avenue
4th Floor
New York City, NY 10017
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
