A Deadline is coming up on November 15, 2016 in the lawsuit for certain investors in Polaris Industries Inc. (NYSE:PII) and NYSE:PII stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/09/2016 -- The Shareholders Foundation announced that a deadline is coming up on November 15, 2016 in the lawsuit filed for certain investors of Polaris Industries Inc. (NYSE:PII) over alleged securities laws violations by Polaris Industries Inc.
Investors who purchased shares of Polaris Industries Inc. (NYSE:PII) have certain options and there are strict and short deadlines running. Deadline: November 15, 2016. NYSE:PII stockholders should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
According to the complaint filed in the U.S. District Court for the District of Minnesota the plaintiff alleges on behalf of purchasers of Polaris Industries Inc. (NYSE:PII) that the Defendants made false and/or misleading statements and/or failed to disclose that the Company was unable to sufficiently validate the initially identified repair for certain of its recalled RZR vehicles, that as a result, the Company would ultimately need to implement a more complex and expensive repair solution, that the financial impact of RZR vehicle recalls was therefore greater than the Company had disclosed to investors, that consequently, the Company had overstated its full-year 2016 guidance, and that as a result of the foregoing, Polaris's public statements were materially false and misleading at all relevant times.
On July 20, 2016, Polaris Industries Inc provided its earnings guidance range for the full year 2016 of $6.00 to $6.30 per diluted share.
On July 25, 2016, Polaris Industries Inc issued a stop-ride/stop-sale advisory, pending a formal recall, for MY2016 RZR Turbo off-road vehicles, due to a potential fire hazard.
On September 12, 2016, Polaris Industries Inc lowered its earnings guidance range for the full year 2016 to $3.30 to $3.80 per diluted share. The lowered guidance is related to additional RZR thermal-related issues and the impact of the voluntary stop ride/stop sale notification issued on July 25. Shares of Polaris Industries Inc. (NYSE:PII) declined from as high as $156.00 per share in early 2015 to as low as $70.14 per share on September 16, 2016.
On November 8, 2016, NYSE:PII shares closed at $80.01 per share.
Those who purchased shares of Polaris Industries Inc. have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego