According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- Quanex’s procedures and policies regarding tooling and equipment maintenance in its Tyman Mexico facility were significantly “underinvested”;
- as a result, Quanex’s tooling and equipment conditions had significantly degraded to near “catastrophic” levels;
- as a result of the foregoing, Quanex was likely to incur significant costs, “pushing out the timing” of expected benefits from the Tyman integration;
- Quanex had previously identified the foregoing issues; and
- as a result of the foregoing, defendants’ positive statements about Quanex’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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.
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