Fox Factory Holding Corp. (NASDAQ: FOXF)

This lawsuit is for anyone who acquired securities in Fox Factory Holding Corp. (NASDAQ: FOXF) from May 6, 2021 through November 2, 2023.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by stuffing the Company’s channels of distribution thereby overstating its revenue.

On November 2, 2023, Fox Factory revealed that its third quarter 2023 net sales had decreased 19.1% year-over-year due to “higher levels of inventory across various channels.” Additionally, the Company significantly lowered its full year sales guidance due to continued inventory destocking. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Fox Factory Holding Corp. (NASDAQ: FOXF) from May 6, 2021 through November 2, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.