NEW YORK, NY / ACCESSWIRE / September 21, 2023 / If you suffered a loss on your Hayward Holdings, Inc. (NYSE:HAYW) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information: https://zlk.com/pslra-1/hayward-lawsuit-submission-form-2?prid=49179&wire=1 or contact Joseph E. Levi, Esq. via email at [email protected] or call (212) 363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: A class action securities lawsuit was filed against Hayward Holdings, Inc. that seeks to recover losses of shareholders who were adversely affected by alleged securities fraud between March 2, 2022 and July 27, 2022.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed 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.
WHAT'S NEXT? If you suffered a loss in Hayward stock during the relevant time frame - even if you still hold your shares - go to https://zlk.com/pslra-1/hayward-lawsuit-submission-form-2?prid=49179&wire=1 to learn about your rights to seek a recovery. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
SOURCE: Levi & Korsinsky, LLP