Case Page

 

Case Status:    ONGOING    
On or around 02/07/2018 (Ongoing date of last review)

Filing Date: February 06, 2018

According to the Complaint, Advance Auto is a leading automotive after-market parts provider in North America that serves professional installers, independently-owned operators, and “do-it-yourself” retail customers. The Company’s stores sell, among other things, original equipment manufacturer and private label automotive replacement parts, accessories, batteries, and maintenance items for automotive vehicles.

The Complaint alleges that, throughout the Class Period, Defendants failed to disclose material adverse facts about the Company’s financial well-being, business relationships, and prospects. Specifically, the Complaint alleges that Defendants failed to disclose or indicate that: (i) integration issues surrounding the Company’s Carquest acquisition resulted in systemic inefficiencies and cannibalization of sales; (ii) increased competition was negatively impacting sales; and (iii) as a result, Defendants’ statements about Advanced Auto’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

COMPANY INFORMATION:

Sector: Services
Industry: Retail & Repair (Automotive)
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: AAP
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. Delaware
DOCKET #: 18-CV-00212
JUDGE: Hon. Gregory M. Sleet
DATE FILED: 02/06/2018
CLASS PERIOD START: 11/14/2016
CLASS PERIOD END: 08/15/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Farnan LLP
    919 N. Market Street, 12th Floor, Farnan LLP, DE 19801
    302.777.0300 302.777.0301 ·
  2. The Rosen Law Firm, P.A. (New York)
    350 Fifth Avenue, Suite 5508, The Rosen Law Firm, P.A. (New York), NY 10118
    212.686.1060 212.202.3827 · lrosen@rosenlegal.com
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