Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Advanced Auto Parts, Inc. (“AAP”) (NYSE: AAP) securities between November 15, 2022 and November 20, 2023, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material facts about the company’s business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose that: (1) AAP misrepresented the efficacy of AAP's strategic pricing initiative and the impact of price reductions and omitted and/or concealed the negative impacts of the pricing initiative; (2) subsequently, AAP then provided investors with an overly optimistic perception of AAP's operations; (3) which created the false impression that inflation and macroeconomic factors had an insubstantial impact on the company's margins; and (4) as a result of the foregoing, Defendants’ statements about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On January 23, 2025, the Court granted Defendants’ Motion to Dismiss, and on February 21, 2025, Lead Plaintiffs filed a Notice of Appeal to the Fourth Circuit Court of Appeals. On February 17, 2026, the Fourth Circuit affirmed the District Court’s decision, and mandated that the case be dismissed on March 11, 2026. This action has concluded.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs' Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.