NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 23, 2023 to file lead plaintiff applications in a securities class action lawsuit against Stanley Black & Decker, Inc. (NYSE: SWK), if they purchased the Company’s shares between October 28, 2021 and July 28, 2022, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of Connecticut.
What You May Do
If you purchased shares of Stanley and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nyse-swk/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by May 23, 2023.
About the Lawsuit
Stanley and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 28, 2022, the Company released its Q2 2022 results disclosing that “significantly slower demand in late May and June…drove the majority of the challenges we faced this quarter” including that net income for the quarter had plummeted from $459.5M in the year-earlier quarter to $87.6M, and that it was cutting its 2022 earnings per share guidance by nearly half. On this news, shares of Stanley plummeted over 16%, from a closing price of $117.45 per share the evening prior, to a closing price of $98.58 per share on July 28, 2022 on heavy trading volume.
The case is Rammohan v. Stanley Black & Decker, inc., et al., No. 23-cv-00369.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.