LOS ANGELES, CA / ACCESSWIRE / April 9, 2018 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Advance Auto Parts, Inc. ("Advance Auto Parts" or "the Company") (NYSE: AAP) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
According to the Complaint, the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. On August 15, 2017, Advance Auto Parts reported disappointing second quarter results, including flat comparable store sales for the quarter and reductions in financial and operational guidance for fiscal year 2017. On this news, shares of Advance Auto Parts fell $22.24 per share or over 20% from its previous closing price to close at $87.08 per share on August 15, 2017. When the truth was revealed to the investing public, shares dropped causing shareholders harm.
Investors who purchased the Company's shares between November 14, 2016 and August 15, 2017, inclusive (the "Class Period"), are encouraged to contact the firm before May 1, 2018, the lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world, and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
Sherin Mahdavian, Esq.,
Schallfirm.com
