The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Leslie's, Inc. (NASDAQ: LESL) who purchased common stock between February 5, 2021 and July 13, 2023. The action, which was filed in the United States District Court for the District of Arizona, alleges that the Company violated federal securities laws.
In particular, the Leslie's lawsuit alleges that (1) the Company’s growth was caused by customers over purchasing products to stockpile in case of a chemical shortage; (2) such sales inflated revenues and earnings and were not indicative of durable and sustainable demand or financial growth; (3) the Company took advantage of chemical shortages by urging customers to stock up on the products because Leslie’s could not “guarantee availability” of chemicals in the future; and (4) any slowdown in sales was not a normalization of past seasonality, but was due to the prior excess stockpiling. As a result, defendants’ positive statements about the Company’s financial guidance, business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Shareholders have until November 7, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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