Philadelphia, Pennsylvania--(Newsfile Corp. - January 22, 2024) - A federal securities fraud class action complaint alleges that Leslie's, Inc. (NASDAQ: LESL), via certain of its officers and directors, misled investors when it failed to disclose that (1) the Company's growth was caused by customers over purchasing products; (2) such sales inflated revenues and earnings and were not indicative of durable and sustainable demand or financial growth; (3) the Company prolonged the inflated customer demand by warning customers that Leslie's could not "guarantee availability" of chemicals in the future; and (4) any slowdown in sales was not a normalization of past seasonality, but was due to the prior excess stockpiling. As a result, it is alleged that positive statements made by Leslie's executives about the Company's financial guidance, business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Current Leslie's shareholders who have held Leslie's stock since prior to February 5, 2021, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award at no cost to them whatsoever.
If you would like to learn more about this matter, you are encouraged to visit https://grabarlaw.com/the-latest/leslie-shareholder-investigation/, or contact Joshua Grabar at jgrabar@grabarlaw.com, or Mia Heller at mheller@grabarlaw.com, or call 267-507-6085. $LESL #Leslies
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Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/195128
