NEW YORK, April 17, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Malibu Boats, Inc. (“Malibu” or the “Company”) (NASDAQ: MBUU) on behalf of Malibu stockholders. Our investigation concerns whether Malibu has violated the federal securities laws and/or engaged in other unlawful business practices.
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On April 11, 2024, Malibu disclosed that a lawsuit had been filed against the Company by boat dealership Tommy’s Boats. The dealership accused Malibu of orchestrating an “intentional and fraudulent scheme on the part of its CEO, Jack Springer” that began in late 2022. The lawsuit alleges that Malibu pressured Tommy’s Boats to increase its floor plan capacity, as part of a scheme to manufacture and pump $100 million of its highest priced and slowest moving boat inventory into Tommy’s Boat dealerships in order to inflate Malibu’s stock value and market share.
On this news, the price of Malibu shares declined by $3.34, or approximately 7.99%, from $41.82 on April 11, 2024 to close at $38.48 per share on April 12, 2024.
If you purchased or otherwise acquired Malibu shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
