NEW YORK, March 29, 2023 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces the filing of a class action lawsuit against Stanley Black & Decker, Inc. (NYSE: SWK) (“Stanley” or the “Company”) for violations of the federal securities laws on behalf of investors who purchased or otherwise acquired Stanley securities between October 28, 2021 to July 28, 2022, inclusive (the “Class Period”).
On March 24, 2023, a complaint was filed against the Company and certain of its officers alleging that Defendants made materially false and/or misleading statements and/or failed to disclose that: (i) 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; (ii) the heightened, extraordinary demand Stanley had enjoyed as a result of the COVID-19 pandemic in 2021 into 2022 no longer existed; (iii) Stanley’s operations were already showing signs of slowing demand; (iv) as a result of reorganization, share repurchasing, and dividend growth, Stanley lacked the cash to react with agility to changes in demand; and (v) 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.
When investors learned the truth, Stanley’s common stock declined precipitously, injuring investors.
If you suffered a loss in Stanley’s securities, and wish to participate, or learn more, click here, or please contact our attorneys at (914) 733-7234 or via email at investigations@lowey.com.
Any investor who wishes to serve as Lead Plaintiff must act before May 23, 2023.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has recovered billions of dollars on behalf of its clients.
Contact:
Lowey Dannenberg P.C.
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White Plains, NY 10601
Tel: (914) 733-7234
Email: investigations@lowey.com
SOURCE: Lowey Dannenberg P.C.
