According to the lawsuit, defendants made false and misleading statements regarding the Leslie’s business, operations, and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that:
- Leslie’s growth was caused by customers over purchasing products to stockpile in case of a chemical shortage;
- such sales inflated revenues and earnings and were not indicative of durable and sustainable demand or financial growth;
- Leslie’s took advantage of chemical shortages by urging customers to stock up on the products because Leslie’s could not “guarantee availability” of chemicals in the future; and
- any slowdown in sales was not a normalization of past seasonality, but was due to the prior excess stockpiling.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Attorney Advertising. Prior results do not guarantee a similar outcome.