| COMPANY |
Advance Auto Parts, Inc. |
| COURT |
United States District Court for the Eastern District of North Carolina |
| CASE NUMBER |
23-cv-00563 |
| JUDGE |
Honorable James C. Dever, III |
| CLASS PERIOD |
November 15, 2022 through November 20, 2023 |
| SECURITY TYPE |
Securities |
Case Background:
This is a securities fraud class action lawsuit on behalf of persons and entities that purchased or otherwise acquired Advanced Auto Parts, Inc. (“AAP”) (NYSE: AAP) securities between November 15, 2022 through November 20, 2023, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material facts about the company’s business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose that: (1) misrepresented the efficacy of AAP's strategic pricing initiative and the impact of price reductions; (2) omitted and/or concealed the negative impacts of the pricing initiative; (3) provided investors with an overly optimistic perception of AAP's operations; and (4) created the false impression that inflation and macroeconomic factors had an insubstantial impact on the Company's margins.
Current Status of Case:
On January 23, 2025, the Court granted Defendants Motion to Dismiss the case. On February 21, 2025, Lead Plaintiffs filed a Notice of Appeal. This action is on appeal and is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.