THE ADVANCE AUTO PARTS CLASS ACTION LAWSUIT: WHAT EVERY INVESTOR NEEDS TO KNOW

10/29/2023

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 what every Advance Auto Parts investor needs to know about the Advance Auto Parts class action lawsuit.

the ALLEGATIONS IN THE class action against ADVANCE AUTO PARTS

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

The class action against Advance Auto Parts 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 class action against Advance Auto Parts 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 class action against Advance Auto Parts 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 class action against Advance Auto Parts alleges that Advance Auto Parts’ stock price declined approximately 35%.

THE LEAD PLAINTIFF PROCESS IN THE CLASS ACTION against ADVANCE AUTO PARTS

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 class action against Advance Auto Parts. 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 a class action against Advance Auto Parts if you suffered losses in Advance Auto Parts stock.

NON-U.S. INVESTORs may SERVE AS LEAD PLAINTIFF IN THE ADVANCE AUTO PARTS CLASS ACTION LAWSUIT

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.

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:

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.

THE LEAD PLAINTIFFS will not GET MORE MONEY THAN CLASS MEMBERS IF THE ADVANCE AUTO PARTS CLASS ACTION LAWSUIT

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.

MULTIPLE LEAD PLAINTIFFS

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 Advance Auto Parts class action lawsuit.

CLASS PERIOD DETERMINination IN THE ADVANCE AUTO PARTS CLASS ACTION LAWSUIT

In a securities fraud class action, the class period refers to a period of time in which it is alleged the price of the company’s stock was artificially inflated due to false and misleading statements made by company executives. The class period starts when the company makes an untrue statement of material fact about the company or fails to disclose a material fact necessary to render other statements not misleading. The class period ends when the truth is revealed to the investing public through a corrective disclosure.

In order to be a part of the class in the Advance Auto Parts class action lawsuit, you must have suffered losses in Advance Auto Parts stock by purchasing during the class period when it is alleged the price of the stock was artificially inflated to be included in the class action against Advance Auto Parts.

HOW 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 class action against Advance Auto Parts. 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].

Call an Advance Auto Parts stock loss Lawyer today if you suffered losses in Advance Auto Parts stock about the class action against Advance Auto Parts who will fight to recover your suffered losses in Advance Auto Parts stock.

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 a class action against Advance Auto Parts. 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