LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz announces an investigation of Fox Factory Holding Corp. (“Fox Factory” or the “Company”) (NASDAQ: FOXF) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On November 2, 2023, Fox Factory revealed that its third quarter 2023 net sales had decreased 19.1% year-over-year due to “higher levels of inventory across various channels.” Additionally, the Company significantly lowered its full year sales guidance due to continued inventory destocking.
On this news, Fox Factory’s stock price fell $22.60, or 27.2%, to close at $60.53 per share on November 3, 2023, thereby injuring investors.
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If you purchased Fox Factory 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, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, 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.
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Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com