SAN DIEGO, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP (www.JohnsonFistel.com) announces the filing of a class action lawsuit on behalf of purchasers of the securities of Hayward Holdings, Inc. (NYSE: HAYW) between March 2, 2022 and July 27, 2022, inclusive (the “Class Period”). If you are a shareholder who incurred losses during this period, you have until October 2, 2023, to move the court to become a lead plaintiff in this action.
If you would like more information and want to join the class action please click or copy and paste the following link:
https://www.johnsonfistel.com/investigations/hayward-holdings-inc
As the Hayward Holdings class action lawsuit alleges, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Hayward Holdings and its management had engaged in a channel-stuffing scheme designed to artificially boost Hayward Holdings’ short-term sales and earnings; (ii) Hayward Holdings had flooded its channel partners with inventory that they did not want or need at a level that far outpaced then-existing consumer demand; (iii) Hayward Holdings’ channel partners were suffering from an inventory glut as a result of the channel-stuffing scheme that would require a massive de-stocking in the second half of 2022; (iv) Hayward Holdings’ channel-stuffing scheme had cannibalized future sales, materially impairing Hayward Holdings’ ability to sell to its customers; (v) the demand for pool equipment had slowed down, which, combined with flooding channel partners with more inventory, led to an inventory glut and the need for these channel partners to reduce inventory levels; and (vi) as a result of the above, Hayward Holdings’ projected 2022 financial results were not achievable and lacked a reasonable basis in fact.
A lead plaintiff will act on behalf of all other class members in directing the class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor's ability to share any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff.
There is no cost or obligation to you.
Johnson Fistel, LLP is a shareholder rights law firm representing individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information, visit their website http://www.johnsonfistel.com.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
Investor Relations
jimb@johnsonfistel.com
or
Frank Johnson, 619-309-4405
fjohnson@johnsonfistel.com
