NEW YORK, May 01, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Malibu Boats, Inc. ("Malibu Boats" or "the Company") (NASDAQ:MBUU) and certain of its officers.
Class Definition:
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Malibu Boats securities between November 4, 2022 and April 11, 2024, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/MBUU.
Case Details:
According to the Complaint, Malibu Boats is a designer, manufacturer, and marketer of recreational powerboats, including performance sport, sterndrive, and outboard boats. The Company purports to be a market leader in the performance sport boat category through its Malibu and Axis boat brands. The Company sells boats via a network of independent dealers, including dealers operating under the common control of Tommy's Boats ("Tommy's"). In fiscal year 2023, sales to Tommy's dealers represented approximately 10.7% of the Company's consolidated net sales and approximately 23.3% of consolidated sales for Malibu brand boats.
On February 20, 2024, before the market opened, Malibu Boats announced the Company's Chief Executive Officer ("CEO"), Defendant ...