Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, April 04, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Stanley Black & Decker, Inc. (NYSE: SWK) investors that a lawsuit filed on behalf of investors that purchased Stanley Black & Decker securities (NYSE: SWK) between October 28, 2021 and July 28, 2022, inclusive (the “Class Period”)
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
Stanley Black & Decker, Inc. has been accused of misleading investors about the sustainability of consumer demand for its products during the pandemic. The company allegedly misrepresented to investors that pandemic-fueled demand for tools and outdoor products would continue through 2022, despite rising inflation and interest rates and multiple rounds of product price increases. In April 2022, the company issued partial corrective disclosures revealing that its Tools and Outdoor net sales had dropped, resulting in a decrease in earnings per share guidance for 2022. In July 2022, the company released its Q2 results, stating that significantly slower demand in late May and June had caused sales volumes to shrink by double digits and cutting its 2022 earnings per share guidance by nearly half. This news caused a 16% day-over-day drop in Stanley's common stock.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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