| COMPANY |
Stanley Black & Decker, Inc. |
| COURT |
United States District Court for the District of Connecticut |
| CASE NUMBER |
23-cv-00369 |
| JUDGE |
The Hon. Kari Anne Dooley |
| CLASS PERIOD |
October 28, 2021 and July 28, 2022 |
| SECURITY TYPE |
Common Stock |
Case Background:
This is a class action lawsuit on behalf of those who purchased or acquired Stanley Black & Decker, Inc. ("Stanley") (NYSE:SWK) common stock between October 28, 2021 and July 28, 2022, both dates inclusive (the “Class Period”).
The Complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) rising interest rates, inflation, and trends in returning to work away from home were in fact quickly eroding then heightened demand for Stanley’s tools and outdoor products; (2) the heightened, extraordinary demand Stanley had enjoyed as a result of the COVID-19 pandemic in 2021 and 2022 was returning to 2019 pre-pandemic levels; (3) Stanley’s operations were already showing signs of slowing demand; (4) as a result of reorganization, share repurchasing, and dividend growth, Stanley lacked the cash to react with agility to changes in demand; (5) as a result of Stanley’s inability to react to a sharp decline in demand, the company’s results and metrics, particularly sales volume, were severely negatively impacted; and (6) as a result, Stanley’s public statements were materially false and misleading at all relevant times.
Current Status of Case:
On December 14, 2023, Defendants filed a Motion to Dismiss the Amended Complaint which has been fully briefed by the parties and is pending before the Court. This action 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.