NEW YORK, April 16, 2024 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP is investigating potential claims against Malibu Boats, Inc. (“Malibu” or the “Company”) (NASDAQ: MBUU). The investigation concerns whether Malibu and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
[Click here to learn more about the investigation]
On April 11, 2024, Malibu disclosed that a lawsuit had been filed against the Company by boat dealership Tommy’s Boats. The dealership accused Malibu of orchestrating an “intentional and fraudulent scheme on the part of its CEO, Jack Springer” that began in late 2022. The lawsuit alleges that Malibu pressured Tommy’s Boats to increase its floor plan capacity, as part of a scheme to manufacture and pump $100 million of its highest priced and slowest moving boat inventory into Tommy’s Boat dealerships in order to inflate Malibu’s stock value and market share. On this news, the price of Malibu shares declined by $3.34, or approximately 7.99%, from $41.82 on April 11, 2024 to close at $38.48 per share on April 12, 2024.
If you purchased or otherwise acquired Malibu securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this CONTACT FORM, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com
