An investigation on behalf of current long term investors in Hayward Holdings, Inc. (NYSE:HAYW) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 10/31/2023 -- Certain directors of Hayward Holdings, Inc. are under investigation concerning potential breaches of fiduciary duties by certain directors of Hayward Holdings, Inc.
Investors who are current long term investors in Hayward Holdings, Inc. (NYSE: HAYW) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NYSE: HAYW stocks follows a lawsuit filed against Hayward Holdings, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: HAYW stocks, concerns whether certain Hayward Holdings, Inc. directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that Hayward Holdings and its management had engaged in a channel-stuffing scheme designed to artificially boost Hayward Holdings' short-term sales and earnings, that Hayward Holdings had flooded its channel partners with inventory that they did not want or need at a level that far outpaced then-existing consumer demand, that Hayward Holdings' channel partners were suffering from an inventory glut as a result of the channel-stuffing scheme that would require a massive de-stocking in the second half of 2022, that Hayward Holdings' channel-stuffing scheme had cannibalized future sales, materially impairing Hayward Holdings' ability to sell to its customers, that the demand for pool equipment had slowed down, which, combined with flooding channel partners with more inventory, led to an inventory glut and the need for these channel partners to reduce inventory levels, and that as a result of the above, Hayward Holdings' projected 2022 financial results were not achievable and lacked a reasonable basis in fact.
Those who purchased shares of Hayward Holdings, Inc. (NYSE: HAYW) have certain options and should contact the Shareholders Foundation.
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