STEVENSON, Md., April 01, 2018 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A
Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the
District of Delaware on behalf of purchasers of Advance Auto Parts, Inc. (NYSE:AAP) (“Advance Auto Parts” or the “Company”)
securities during the period between November 14, 2016 through August 15, 2017, inclusive (the “Class Period”). Investors who
wish to become proactively involved in the litigation have until April 9, 2018 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and
be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including
whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants
claiming the largest loss from investment in Advance Auto Parts securities during the Class Period. Members of the class will
be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above
action.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the
defendants’ failure to disclose during the Class Period that integration issues surrounding Advance Auto’s Carquest acquisition
resulted in systemic inefficiencies and cannibalization of sales and increased competition was negatively impacting sales.
According to the complaint, following a May 24, 2017 report of disappointing first quarter fiscal 2017 financial
and operational results, including a quarterly sales decrease of 3.0% and quarterly decrease in gross profit, and an August 15,
2017 report of disappointing second quarter fiscal 2017 financial and operational results and lowering of its guidance, the value
of Advance Auto shares declined significantly.
If you have suffered a loss in excess of $100,000 from investment in Advance Auto Parts securities purchased on
or after November 14, 2016 and held through the revelation of negative information during and/or at the end of the Class Period and
would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you,
please contact Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and
have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower
Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at
this time to be a member of the class.
CONTACT: Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
hoffman@browerpiven.com
