A national shareholder right litigation firm, the Schall Law Firm reminds investors of a class filed lawsuit against Malibu Boats, Inc. (“Malibu Boats” or “the Company”) (NASDAQ: MBUU) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who have purchased the securities of the company between November 4, 2022 and April 11, 2024 were encouraged to contact the firm before June 28, 2024. The class involved in this case has not been certified yet and before the certification the class would not represented by an attorney. If someone choose to take no action regarding this could remain an absent class member.
The company made false and misleading statements to the market as per the Complaint. Malibu Boats pumped almost $100 million of its highest-margin but slow-moving inventory into 15 Tommy’s Boats (“Tommy’s”) dealerships (the “Scheme”). The Company artificially inflated its financial performance including sales, market share, and stock value. The Company’s scheme placed it at risk of a lawsuit from Tommy’s. Based on these facts, the Company’s public statements were false and materially misleading. When the market learned the truth about Malibu Boats, investors suffered damages.
The Schall Law Firm are representing investors around the world who are specialized in securities class action lawsuits and shareholder right litigations.