A lawsuit was filed by an investor in NYSE:SWK shares against directors of Stanley Black & Decker, Inc over alleged breaches of fiduciary duty and NYSE:SWK stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/30/2023 -- The Shareholders Foundation announced that an investor in shares of Stanley Black & Decker, Inc. (NYSE: SWK) filed a lawsuit against certain directors of Stanley Black & Decker, Inc. over alleged breaches of fiduciary duties.
Investors who are current long term investors in Stanley Black & Decker, Inc. (NYSE: SWK) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff alleges that certain directors of Stanley Black & Decker, Inc. made certain material misrepresentations to investors about high consumer demand during the COVID-19 pandemic, inflating the stock price before the truth was revealed and it began to fall.
The lawsuit against certain directors of Stanley Black & Decker, Inc. over alleged breaches of fiduciary duties comes after a lawsuit was filed in March 2023 against Stanley Black & Decker, Inc. over alleged securities laws violations. According to that complaint filed in the U.S. District Court for the District of Connecticut the plaintiff alleges that the defendants made materially false and/or misleading statements and/or failed to disclose that rising interest rates, inflation, and trends in returning to work away from home were in fact quickly eroding demand for Stanley's tools and outdoor products, that the heightened, extraordinary demand Stanley had enjoyed as a result of the COVID-19 pandemic in 2021 into 2022 no longer existed, that Stanley's operations were already showing signs of slowing demand, that as a result of reorganization, share repurchasing, and dividend growth, Stanley lacked the cash to react with agility to changes in demand, and that as a result of Stanley's inability to react to a sharp decline in demand, the Company's results and metrics, particularly sales volume, were severely negatively impacted.
Those who purchased shares of Stanley Black & Decker, Inc. (NYSE: SWK) have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.