Malibu Boats, Inc. (NASDAQ: MBUU)

This lawsuit is for anyone who acquired securities in Malibu Boats, Inc. (NASDAQ: MBUU) from November 4, 2022 through April 11, 2024.

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 engaging in a scheme to stuff the Company’s channels of distribution for the purpose of artificially inflating the Company’s revenue.

On April 11, 2024, Malibu disclosed that a complaint had been filed against the Company alleging that it had breached its obligations under dealerships agreements with Tommy’s Boats, and engaged in a scheme to over manufacture and pump nearly $100 million of its highest priced, highest margin, slow moving boat inventory into fifteen Tommy’s Boats dealerships in order to artificially inflate Malibu’s sales performance. 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 Malibu Boats, Inc. (NASDAQ: MBUU) from November 4, 2022 through April 11, 2024 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.