If you suffered losses in Advance Auto Parts stock, contact Advance Auto Parts stock loss lawyer Timothy L. Miles
OVERVIEW OF THE ADVANCE AUTO PARTS SYNOPSIS
Welcome to this investor synopsis of the Advance Auto Parts class action lawsuit. In this synopsis, we take a hard look at Advance Auto Parts including its background, leadership, directors, and stock information, and then delve into the Advance Auto Parts class action lawsuit, including the lead plaintiff process, qualifications for the Advance Auto Parts class action lawsuit, how an Advance Auto Parts Stock Loss Lawyer can help you, and much more.
We hope you find this information useful and helpful. If you are thinking of moving for lead plaintiff status in the DermTech class action lawsuit, or have any questions about you rights as a class member or anything else, please do not hesitate to reach out to Timothy L. Miles. This will most likely be the only call you need to make. (855) 846–6529 or [email protected]. And, the call is free and so is the fee unless we win or settle your case.
Background on Advance Auto Parts
Advance Auto Parts, Inc. offers automotive replacement parts, accessories, batteries, and maintenance items for both domestic and imported vehicles such as cars, vans, SUVs, and light and heavy-duty trucks. The range of products includes battery accessories; belts and hoses; brakes and brake pads; chassis and climate control parts; clutches and drive shafts; engines and engine parts; exhaust systems and parts; hub assemblies; ignition components and wires; radiators and cooling parts; starters and alternators; and steering and alignment parts. In addition, the company sells air conditioning chemicals and accessories; air fresheners; antifreeze and washer fluids; electrical wires and fuses; electronics; floor mats, seat covers, and interior accessories; hand and specialty tools; lighting products; performance parts; sealants, adhesives, and compounds; tire repair accessories; vent shades, mirrors, and exterior accessories; washes, waxes and cleaning supplies; and wiper blades.
It also provides fuel and oil additives; fuel filters; grease and lubricants; motor oils; oil filters, part cleaners and treatments; and transmission fluids for engine maintenance. Furthermore, the company offers battery and wiper installation; engine light scanning and checking; electrical system testing, including batteries, starters, and alternators; oil and battery recycling; and loaner tool program services. It markets its products online and through stores using the Advance Auto Parts, Autopart International, Carquest, and Worldpac brands. The company operates stores in the United States, Puerto Rico, the U.S. Virgin Islands, Canada, and independently owned Carquest branded stores in Mexico, Grand Cayman, and Caribbean Islands. Advance Auto Parts was founded in 1929 and is headquartered in Raleigh, North Carolina.
The Leadership at Advance Auto Parts
Advance Auto Parts in ran by Shane M. O'Kelly, its President Chief Executive Office and director. Below are other key executives at Advance Auto Parts and their title.
Advance Auto Part's Board of Directors
Advance Auto Parts has a nine-member Board of Directors as identified below along with their current positions. The Board has four standing committees: Audit, Compensation, Nominating and Corporate Governance (Nominating) and Finance. The members of each of these committees are also identified below.
The Company's Stock Performance
The Company's stock currently trades at just above $57 dollars per share. It has a 53-Week Range of 47.43-189.74. With an average daily volume of 2,405,723 the company's market capitalization is approximately 3.398 billion and it has a one-year estimated target of 68.61.
Background on 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.
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%.
THE LEAD PLAINTIFF PROCESS IN THE ADVANCE AUTO PARTS CLASS ACTION LAWSUIT
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in Advance Auto Parts stock to seek appointment as lead plaintiff in the Advance Advance Auto Parts class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.
A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit. An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in Advance Auto Parts stock and have further questions, contact Advance Auto Parts stock loss Lawyer Timothy L. Miles today who will fight to recover your damages in an Advance Auto Parts class action lawsuit if you suffered losses in Advance Auto Parts stock.
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 has several advantages and important benefits including:
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.
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 class action against Advance Auto Parts.
WILL THE LEAD PLAINTIFFS GET MORE MONEY THAN CLASS MEMBERS IF THE ADVANCE AUTO PARTS CLASS ACTION LAWSUIT?
No, but they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class in the Advance Auto Parts class action lawsuit. Under the Private Securities Litigation Reform Act of 1995, a Lead Plaintiff is only entitled to his or her pro rata share of any recovery and does not receive any additional money for serving as a representative party on behalf of the class. However, a court, in its discretion, may approve an award of “reasonable costs and expenses (including lost wages)” to a Lead Plaintiff that directly relates to the representation of the class in the Advance Auto Parts class action lawsuit on behalf of investors who suffered losses in Advance Auto Parts stock.
An ADVANCE AUTO PARTS STOCK LOSS LAWYER can HELP you
An Advance Auto Parts stock loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation and focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals such as in the Advance Auto Parts class action lawsuit. Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, if they have lost money due to mistakes, incompetence, or fraud by an investment professional.
While FINRA, the SEC, and state securities regulators serve a vital role in protecting investors, they simply have too many individuals, firms, and market transactions to monitor to discover every act of fraud or negligence. Individual investors should consult with a securities lawyer if they have lost money due to fraud or stockbroker misconduct.
Look for a securities lawyer with experience, high ethical standards, verifiable credentials, and a trustworthy reputation among his peers and the judiciary, as well as testimonials from previous clients and awards and recognitions.
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].
CONTACT AN ADVANCE AUTO PARTS STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN ADVANCE AUTO PARTS STOCK ABOUT A 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.
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.
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846-6529
Email: [email protected]
HOURS OF OPERATION