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NEW YORK, NY / ACCESSWIRE / June 1, 2023 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Advance Auto Parts, Inc. (“Advance Auto Parts” or the “Company”) (NYSE:AAP). Investors who purchased Advance Auto Parts securities are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: www.bgandg.com/aap.
The investigation concerns whether Advance Auto Parts has violated federal securities laws.
On May 31, 2023, Advance Auto Parts revealed its financial results for the first quarter of fiscal year 2023 and reduced its full-year guidance and quarterly dividend. Advance Auto Parts attributed the results to an operating margin rate of 2.6% in the quarter that was “well below expectations due to higher than planned investments to narrow competitive price gaps in the professional sales channel as well as unfavorable product mix.” Following this news, Advance Auto Parts stock dropped, thereby damaging investors.
If you are aware of any facts relating to this investigation or purchased Advance Auto Parts shares, you can assist this investigation by visiting the firm’s site: www.bgandg.com/aap. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz and Grossman, LLC
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