| COMPANY |
Advance Auto Parts, Inc. |
| COURT |
United States District Court for the Eastern District of North Carolina |
| CASE NUMBER |
23-cv-00563 |
| JUDGE |
The Hon. James C. Dever, III |
| CLASS PERIOD |
between November 15, 2022 and November 20, 2023 |
| SECURITY TYPE |
Securities |
Case Background:
On October 9, 2023, the initial Complaint was filed against Advance Auto Parts, Inc. ("AAP" or the "Company") on behalf of all persons who purchased or otherwise acquired Advance Auto Parts, Inc. common stock during the Class Period.
The Complaint alleges that defendants made false and/or materially misleading statements that: 1) misrepresented the efficacy of AAP's strategic pricing initiative and the impact of price reductions; 2) omitted and/or concealed the negative impacts of the pricing initiative; 3) provided investors with an overly optimistic perception of AAP's operations; and 4) created the false impression that inflation and macroeconomic factors had an insubstantial impact on the Company's margins.
Current Status of Case:
On April 22, 2024, Lead Plaintiffs filed a Consolidated Complaint. Defendants filed Motion to Dismiss the Consolidated Complaint on June 21, 2024. The Motion is awaiting the Court’s decision. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 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.