$AAP Potential Shareholder Derivative CaseHave you held your AAP shares since at least November 2016?
There is a potential shareholder derivative case against certain officers and directors of Advance Auto Parts, Inc. (NYSE: 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the company made false and misleading statements beginning in November 2016, On August 15, 2017, the officers finally rescinded the false guidance and the stock price plummeted, losing more than 20% of its value in a single day.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.
If you want to learn more about the derivative action and how you might be able to benefit, message me here or at jgrabar@grabarlaw.com
Thank you,
Josh