ATLANTA, April 30, 2024 (GLOBE NEWSWIRE) -- A shareholder class action lawsuit has been filed against Malibu Boats, Inc. (“Malibu Boats” or the “Company”) (NASDAQ: MBUU). The lawsuit alleges that Defendants made materially false and misleading statements and/or failed to disclose material adverse information regarding the Company’s business, operations, and prospects, including allegations that: (1) Malibu Boats engaged in an “elaborate scheme to over manufacture and pump nearly $100 million of its highest priced, highest margin, slow moving boat inventory into fifteen [] Tommy’s dealerships”; (2) as a result, the Company artificially inflated its sales performance, market share, and stock value; (3) the Company was withholding certain incentives and rebates from its dealers; (4) as a result of the foregoing, the Company faced substantial risk of litigation from one of its top dealers, Tommy’s; and (5) Malibu Boat’s CEO departed due to this role in this scheme.
If you bought Malibu Boats shares between November 4, 2022 and April 11, 2024, and suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey Holzer, Esq. at cholzer@holzerlaw.com, by toll-free telephone at (888)-508-6832 or, you may visit the firm’s website at www.holzerlaw.com/case/malibu-boats/ to learn more.
The deadline to ask the court to be appointed lead plaintiff in the case is June 28, 2024.
Holzer & Holzer, LLC, an ISS top rated securities litigation law firm for 2021 and 2022, dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct. More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey Holzer is the attorney responsible for its content.
CONTACT:
Corey Holzer, Esq.
(888) 508-6832 (toll-free)
cholzer@holzerlaw.com
