NEW
YORK, Aug. 11, 2023 /PRNewswire/ -- Jakubowitz
Law announces that a securities fraud class action
lawsuit has commenced on behalf of shareholders of Hayward
Holdings, Inc. (NYSE: HAYW).
To receive updates on the lawsuit, fill out the
form:
https://claimyourloss.com/securities/hayward-class-action-loss-submission-form-2/?id=43325&from=4
The lawsuit seeks to recover losses for shareholders who
purchased Hayward between March 2,
2022 and July 27, 2022.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
October 2, 2023 to petition
the court. Your ability to share in any recovery doesn't require
that you serve as a lead plaintiff.
According to a filed complaint, Hayward Holdings, Inc. issued
materially false and/or misleading statements and/or failed to
disclose that: (a) Hayward and its management had engaged in a
channel-stuffing scheme designed to artificially boost Hayward's
short-term sales and earnings; (b) Hayward had flooded its channel
partners with inventory that they did not want or need at a level
that far outpaced then-existing consumer demand; (c) Hayward's
channel partners were suffering from an inventory glut as a result
of the channel-stuffing scheme that would require a massive
destocking in the second half of 2022; (d) Hayward's
channel-stuffing scheme had cannibalized future sales, materially
impairing the Company's ability to sell to its customers; (e) the
demand for pool equipment had slowed down, which, combined with
flooding channel partners with more inventory, led to an inventory
glut and the need for these channel partners to reduce inventory
levels; and (f) as a result of (a)-(e) above, Hayward's projected
2022 financial results were not achievable and lacked a reasonable
basis in fact.
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities
fraud. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887
View original
content:https://www.prnewswire.com/news-releases/hayw-shareholder-alert-jakubowitz-law-reminds-hayward-shareholders-of-a-lead-plaintiff-deadline-of-october-2-2023-301898484.html
SOURCE Jakubowitz Law