NEW YORK--(BUSINESS WIRE)--Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Stanley Black & Decker, Inc.(“Stanley” or “the Company”)(NYSE: SWK) and certain of its officers, on behalf of all persons and entities that purchased, or otherwise acquired Stanley securities between October 28, 2021 and July 28, 2022, inclusive (the ''Class Period''). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/swk.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.
The Complaint alleges that Stanley made materially false and/or misleading statements and/or failed to disclose that: (i) rising interest rates, inflation, and trends in returning to work away from home were in fact quickly eroding demand for Stanley's tools and outdoor products; (ii) the heightened, extraordinary demand Stanley had enjoyed as a result of the COVID-19 pandemic in 2021 into 2022 no longer existed; (iii) Stanley's operations were already showing signs of slowing demand; (iv) as a result of reorganization, share repurchasing, and dividend growth, Stanley lacked the cash to react with agility to changes in demand; and (v) as a result of Stanley's inability to react to a sharp decline in demand, the Company's results and metrics, particularly sales volume, were severely negatively impacted.
After the July 28, 2022, press release and investor earnings call, the Company's stock price declined $18.87, or more than 16%, from a close of $117.45 per share on July 27, 2022 to a close of $98.58 per share on July 28, 2022.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/swk or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484.
If you suffered a loss in Stanley you have until May 23, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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.