5 FREQUENTLY ASKED QUESTIONS ABOUT THE ADVANCE AUTO PARTS CLASS ACTION

5 frequently asked queSTIONS about the Advance Auto Parts Class Action

11/5/2023

If you suffered losses in Advance Auto Parts stock, contact Advance Auto Parts stock loss lawyer Timothy L. Miles

Introduction to THE ADVANCE AUTO PARTS CLASS ACTION LAWSUIT

The Advance Auto Parts class action lawsuit seeks to represent purchasers or acquirers of Advance Auto Parts, Inc. (NYSE: AAP) securities between November 16, 2022 and May 30, 2023, inclusive (the “Class Period”). Captioned Suarez v. Advance Auto Parts, Inc., No. 23-cv-00563 (E.D.N.C.), the Advance Auto Parts class action lawsuit charges Advance Auto Parts and certain of its top executive officers with violations of the Securities Exchange Act of 1934 .

If you suffered losses in Advance Auto Parts stock and wish to serve as lead plaintiff in the Advance Auto Parts class action lawsuit, please contact Advance Auto Parts Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form. Lead plaintiff motions for the Advance Auto Parts class action lawsuit must be filed with the court no later than December 8, 2023.

Read on to learn answers to five frequently asked questions about the Advance Auto Parts class action lawsuit.

what are the ALLEGATIONS IN THE ADVANCE AUTO PARTS CLASS ACTION LAWSUIT

Advance Auto Parts is a retailer specializing in automobile parts and accessories, serving both automobile professionals and non-professional consumers.

The Advance Auto Parts class action lawsuit alleges that defendants, throughout the Class Period, made false and/or misleading statements because they: (i) misrepresented the efficacy of Advance Auto Parts’ strategic pricing initiative and the impact of price reductions; (ii) omitted and/or concealed the negative impacts of the pricing initiative; (iii) provided investors with an overly optimistic perception of Advance Auto Parts’ operations; and (iv) created the false impression that inflation and macroeconomic factors had an insubstantial impact on Advance Auto Parts’ margins.

The Advance Auto Parts class action lawsuit further alleges that, on May 31, 2023, Advance Auto Parts’ CEO, defendant Thomas R. Greco, disclosed that the company’s “financial results in the first quarter were well below expectations” and that because Advance Auto Parts lowered prices on products, it “had less price realization than plans, which put substantially higher pressure on our product margin rate.” The Advance Auto Parts class action lawsuit also alleges that Advance Auto Parts’ CFO, defendant Jeffrey W. Shepherd, revealed that the company’s strategic pricing program resulted in Advance Auto Parts being “unable to price to cover product costs in the quarter.” As a result, the Advance Auto Parts class action lawsuit alleges that the company revised downward its 2023 guidance to an operating margin of 5% to 5.3% from the previously announced 7.8% to 9.2% margins. On this news, the Advance Auto Parts class action lawsuit alleges that Advance Auto Parts’ stock price declined approximately 35%.

CAN A NON-U.S. INVESTOR SERVE AS LEAD PLAINTIFF IN THE ADVANCE AUTO PARTS CLASS ACTION LAWSUIT IF THEY SUFFERED LOSSES IN ADVANCE AUTO PARTS STOCK?

Yes, courts in the U.S. have consistently recognized that non-U.S. investors, many of whom have substantial holdings, are adequate lead plaintiffs and have the same right to move for lead plaintiffs as U.S. investors. Thus, if a non-U.S. investor suffered losses in Advance Auto Parts stock, they may move the Court to be appointed lead plaintiff in the Yes, courts in the U.S. have consistently recognized that non-U.S. investors, many of whom have substantial holdings, are adequate lead plaintiffs and have the same right to move for lead plaintiffs as U.S. investors. Thus, if a non-U.S. investor suffered losses in Advance Auto Parts stock, they may move the Court to be appointed lead plaintiff in the Advance Auto Parts class action lawsuit.
.

IF I SUFFERED LOSSES IN ADVANCE AUTO PARTS STOCK, WHAT ARE THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE ADVANCE AUTO PARTS CLASS ACTION LAWSUIT?

Serving as a Lead Plaintiff in the Advance Auto Parts class action lawsuit lawsuit has several advantages and important benefits including:

A Lead Plaintiff is able to negotiate more competitive attorney fees and reduce other litigation costs by actively monitoring the class counsel.
Lead Plaintiff has the benefit of being able to manage the litigation primarily by overseeing and monitoring the progress of the action and the efforts of counsel, and being able to review and comment on important filings and other documents pertaining to the prosecution of the action.
There is no financial risk in serving as a Lead Plaintiff because Lead Counsel advances all costs and expenses incurred it the prosecution of the case and will be reimbursed only if there is a successful settlement or judgment recovery on behalf of the class.
Lead Plaintiff has the benefit involved and active in all negotiations relating to any settlement.
Lead Plaintiffs that continue owning the stock of the defendant will enjoy the long-term benefits from governance reform resulting from the litigation.

Thus, there are numerous benefits and other advantages to serving as lead plaintiff in the Advance Auto Parts class action lawsuit if you suffered losses in Advance Auto Parts stock.

CAN I BE APPOINTED LEAD PLAINTIFF IN THE ADVANCE AUTO PARTS CLASS ACTION LAWSUIT IF I PURCHASED SHARES OUTSIDE OF THE CLASS PERIOD?

No. Even if you suffered losses in Advance Auto Parts stock, if you purchased securities outside of the Class period, you will not be able to participate in the Advance Auto Parts class action lawsuit.

CAN THE COURT APPOINT MORE THAN ONE LEAD PLAINTIFF IN THE ADVANCE AUTO PARTS CLASS ACTION LAWSUIT?

Yes, at its discretion the Court may appoint a person, entity, or group of persons and/or entities as Lead Plaintiffs to oversee the Advance Auto Parts class action lawsuit.

CONTACT AN ADVANCE AUTO PARTS STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN ADVANCE AUTO PARTS STOCK

If you suffered losses in Advance Auto Parts stock, contact Advance Auto Parts stock loss lawyer Timothy L. Miles today for a free case evaluation about an Advance Auto Parts class action lawsuit. Call today and see what an Advance Auto Parts stock loss lawyer could do for you if you suffered losses in Advance Auto Parts stock.

Advance Auto Parts stock loss lawyer Timothy L. Miles

Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors, shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, 6Class Action: Class Action: Top National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM (2019-2022); America's Most Honored Lawyers 2020; Top 1% by America's Most Honored (2020-2022). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more. Please visit our website or call for free anytime.

CONTACT
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846-6529