Law Offices of Howard G. Smith announces an investigation on behalf of Malibu Boats, Inc. (“Malibu” or the “Company”) (NASDAQ: MBUU) investors concerning the Company’s possible violations of federal securities laws.
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, Malibu’s stock price fell $3.34, or 8%, to close at $38.48 per share on April 12, 2024, thereby injuring investors.
If you purchased Malibu 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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/20240416369418/en/
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
