A lawsuit was filed on behalf of investors in Polaris Industries Inc. (NYSE:PII) shares over alleged securities laws violations and NYSE:PII investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/21/2016 -- An investor, who purchased shares of Polaris Industries Inc. (NYSE:PII), filed a lawsuit in Minnesota over alleged violations of Federal Securities Laws by Polaris Industries Inc..
Investors who purchased shares of Polaris Industries Inc. (NYSE:PII) have certain options and for certain investors are short and strict deadlines running. Deadline: November 15, 2016. NYSE:PII investors should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The plaintiff claims that between January 26, 2016 and September 11, 2016 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 September 20, 2016, NYSE:PII shares closed at $71.52 per share.
Those who purchased shares of Polaris Industries Inc. have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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