MPW - Bragar Eagel & Squire P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Leslie's Archer and MPT and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, Oct. 13, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Leslie's, Inc. (NASDAQ:LESL), Archer Aviation, Inc. (NASDAQ:ACHR), and Medical Properties Trust, Inc. (NYSE:MPW). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Leslie's, Inc. (NASDAQ:LESL)
Class Period: February 5, 2021 - July 13, 2023 (Common Stock Only)
Lead Plaintiff Deadline: November 7, 2023
The Class Action alleges that, during the Class Period, Defendants misled investors and/or failed to disclose that (1) the Company's growth was caused by customers over purchasing products; (2) such sales inflated revenues and earnings and were not indicative of durable and sustainable demand or financial growth; (3) the Company prolonged the inflated customer demand by warning customers that Leslie's could not "guarantee availability" of chemicals in the future; and (4) any slowdown in sales was not a normalization of past seasonality, but was due to the prior excess stockpiling.
On July 13, 2023, Leslie's issued a press release announcing disappointing preliminary results for its fiscal third quarter of 2023 ended on July 1, 2023, including a 9% year-over-year sales decline and a cut to the Company's fiscal 2023 guidance. The press release quoted Defendant Egeck, revealing that "consumers entered the pool season with a greater than normal amount of chemicals left[ ]over from last year." In addition, the Company announced that its Chief Financial Officer would depart the following month. These revelations shocked analysts, resulting in ...