Archived Investigations
Stanley Black & Decker, Inc. (NYSE: SWK)
Kahn Swick & Foti, LLC (“KSF”) and KSF partner, 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).
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.