Fox Factory Holding Corp.
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
On November 2, 2023, Fox Factory announced in a Form 8-K filing with the SEC that its net sales for the third quarter of the fiscal year 2023 had fallen by 19.1% compared to the same period the previous year. This decline was attributed to “higher levels of inventory across various channels.” Moreover, Fox Factory reduced its full-year sales forecast from the initial range of $1.67 billion to $1.70 billion, down to between $1.45 billion and $1.47 billion. The company cited ongoing inventory destocking within its specialty sports group business segment as the reason for this adjustment. Following this announcement, the share price of Fox Factory plummeted by $22.60, or approximately 37.3%, dropping from $83.13 per share on November 2, 2023, to close at $60.53 on November 3, 2023.
