NEW ORLEANS, April 21, 2023 /PRNewswire/ -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have untilMay 23, 2023 to file lead plaintiff applications in a securities class action lawsuit against Stanley Black & Decker, Inc. (NYSE: SWK), if they purchased the Company's shares between October 28, 2021 and July 28, 2022, inclusive (the "Class Period"). This action is pending in the United States District Court for the District of Connecticut.
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Stanley investors should visit us at https://claimsfiler.com/cases/nyse-swk/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Stanley and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 28, 2022, the Company released its Q2 2022 results disclosing that "significantly slower demand in late May and June…drove the majority of the challenges we faced this quarter" including that net income for the quarter had plummeted from $459.5M in the year-earlier quarter to $87.6M, and that it was cutting its 2022 earnings per share guidance by nearly half.
On this news, shares of Stanley plummeted over 16%, from a closing price of $117.45 per share the evening prior, to a closing price of $98.58 per share on July 28, 2022 on heavy trading volume.
The case is Rammohan v. Stanley Black & Decker, Inc., et al., No. 23-cv-00369.
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ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
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