EVERYTHING INVESTORS NEED TO KNOW ABOUT THE ADVANCE AUTO PARTS CLASS ACTION LAWSUIT

10/31/2023

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.

In this comprehensive guide, we will provide you with all the necessary information regarding the Advance Auto Parts class action lawsuit, its allegations, the lead plaintiff process, the benefits of serving as a lead plaintiff, and more.

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%.

BECOMING THE LEAD PLAINTIFF IN THE class action against ADVANCE AUTO PARTS

Serving as a Lead Plaintiff in the class action against Advance Auto Parts 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 a class action against Advance Auto Parts if you suffered losses in Advance Auto Parts stock.

ELIGIBILITY FOR LEAD PLAINTIFF IN THE CLASS ACTION AGAINST ADVANCE AUTO PARTS

Non-U.S. investors who suffered losses in Advance Auto Parts stock are also eligible to serve as lead plaintiffs in the class action against Advance Auto Parts. The lawsuit is not limited to U.S. investors, ensuring that all investors who suffered losses due to Advance Auto Parts' alleged misconduct can seek legal recourse and potentially recover their losses.

YOU CANNOT BE APPOINTED LEAD PLAINTIFF IN THE CLASS ACTION AGAINST ADVANCE AUTO PARTS IF YOU PURCHASED SHARES OUTSIDE OF THE CLASS PERIOD

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 class action against Advance Auto Parts.

CAN YOU BE APPOINTED LEAD PLAINTIFF IN MULTIPLE LAWSUITS?

Yes, unless you have been a lead plaintiff in more than five securities class actions during any three-year period which is expressly prohibited by the securities laws. Otherwise, if you suffered losses in Advance Auto Parts stock, you may move to be appointed lead plaintiff in the class action against Advance Auto Parts.

CLASS PERIOD DETERMINATION IN THE ADVANCE AUTO PARTS CLASS ACTION LAWSUIT

In the class action against Advance Auto Parts, the class period refers to the specific timeframe during which the alleged misconduct occurred. For securities fraud class actions, the class period begins when the company makes false or misleading statements or fails to disclose material facts necessary to render other statements not misleading. The class period ends when the truth is revealed to the investing public through a corrective disclosure.

To be included in the class action against Advance Auto Parts, you must have suffered losses in Advance Auto Parts stock by purchasing shares during the class period when the stock's price was allegedly artificially inflated.

HOW An ADVANCE AUTO PARTS STOCK LOSS LAWYER CAN HELP YOU

If you suffered losses in Advance Auto Parts stock, it is essential to seek the guidance of an Advance Auto Parts stock loss lawyer. These lawyers are skilled in navigating the complex laws that govern the securities industry and litigation. They focus on representing individual investors or funds who have been victims of fraud or who have disputes with investment professionals such as in the Advance Auto Parts class action lawsuit.

While regulatory bodies such as FINRA, the SEC, and state securities regulators play a crucial role in protecting investors, they cannot monitor every act of fraud or negligence. By consulting with a securities lawyer, you can ensure that your rights are protected and potentially recover your losses resulting from fraud or stockbroker misconduct.

When selecting an Advance Auto Parts stock loss lawyer, look for experience, high ethical standards, verifiable credentials, and a trustworthy reputation. Testimonials from previous clients, awards, and recognitions can also help you make an informed decision.

One name that immediately pops-up is nationally known and widely respected Nashville lawyer Timothy L. Miles, who has valuable experience and has received numerous awards, mostly due to his high ethical standards, and hard work ethic, including most recently being named a Top 25 Class action lawyer by the National Trial Lawyers Association, and has maintained an AV rating from Martindale-Hubble since 2014, was named a 2023 Top Rated Litigator and 2023 Top Rated Lawyer by Martindale-Hubble and ALM, and was recently named a 2023 Elite Lawyer of the South by Martindale-Hubble for the fifth year in a row, and was a recipient of Avvo Client’s Choice Award in 2021, in 2022 was featured in the Top 100 Lawyers Magazine and received the Lifetime Achievement Award by Premier Lawyers of America (2019–2021).

This will most likely be the only call you need to make. (855) 846–6529 or [email protected].

BECOMING A MEMBER OF THE CLASS IN THE ADVANCE AUTO PARTS CLASS ACTION LAWSUIT

If you purchased Advance Auto Parts shares during the class period and suffered losses, you are likely a member of the class in the Advance Auto Parts class action lawsuit. As a member of the class, you may participate in the class action against Advance Auto Parts and potentially share in any settlement or recovery.

CONTACT AN ADVANCE AUTO PARTS STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN ADVANCE AUTO PARTS STOCK ABOUT An ADVANCE AUTO PARTS CLASS ACTION LAWSUIT

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