MBUU CLASS ACTION NOTICE

The Law Offices of Frank R. Cruz Files Securities Fraud Lawsuit Against Malibu Boats, Inc. - Seite 2

On this news, the Company’s stock price fell $3.34, or 7.99%, to close at $38.48 per share on April 12, 2024, on unusually heavy trading volume. The Company’s common stock price continued to fall the next consecutive trading session, falling $2.34 or 6% to close at $36.14 per share on April 15, on unusually heavy trading volume.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Malibu Boats engaged in an “elaborate scheme to over manufacture and pump nearly $100 million of its highest priced, highest margin, slow moving boat inventory into fifteen Tommy’s dealerships”; (2) that, as a result, the Company artificially inflated Malibu’s sales performance, market share, and stock value; (3) that the Company was withholding certain incentives and rebates from its dealers; (4) that, as a result of the foregoing, the Company faced substantial risk of litigation from one of its top dealers, Tommy’s; (5) that the Company’s CEO departed due to this role in this scheme; and (6) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

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If you purchased Malibu Boats securities during the Class Period, you may move the Court no later than 60 days from this notice to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you purchased Malibu Boats securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Los Angeles, California 90067 at 310-914-5007, by email to [e-mail], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240429004580/en/

The Malibu Boats Registered (A) Stock at the time of publication of the news with a raise of +1,87 % to 34,79EUR on Nasdaq stock exchange (29. April 2024, 23:20 Uhr).