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Important Investor Alert for All Owners of Advance Auto Parts, Inc.

Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a securities class action lawsuit has been filed in the United States District Court for the District of Delaware against Advance Auto Parts, Inc.

Lead  Plaintiff  Deadline is April 9, 2018    

NEW YORK, Feb. 23, 2018 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP  reminds investors  that a federal securities class action lawsuit has been filed in the United States District Court for the District of Delaware against Advance Auto Parts, Inc. (“Advance Auto Parts” or the “Company”) (NYSE:AAP) on behalf of investors that acquired Advance Auto Parts securities during the period between November 14, 2016 and August 15, 2017, inclusive (the “Class Period).

Investors who have incurred losses in shares of Advance Auto Parts, Inc.  are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.

If   you have  incurred  losses  in  the shares of Advance Auto Parts, Inc.  and would like to assist with the litigation process as a lead plaintiff, you may, no later than April 9, 2018, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Advance Auto Parts, Inc.

/EIN News/ -- The filed complaint focuses on whether the Company and its executives violated federal securities laws by failing to disclose or indicate:

  • integration issues surrounding the Company’s Carquest acquisition resulted in systemic inefficiencies and cannibalization of sales;
     
  • increased competition was negatively impacting sales; and
     
  • as a result, the Company’s statements about its business, operations and prospects were materially false and misleading and/or lacked a reasonable basis.

On   May 24, 2017, Advance Auto Parts reported disappointing first quarter fiscal 2017 financial and operational results. The Company reported a quarterly decrease in gross profit, “primarily driven by investments in the customer, inventory optimization efforts and supply chain expense deleverage due to the comparable store sales decline.” Further, Advance Auto Parts reported that its quarterly comparable store sales had declined 2.7%. On this news, Advance Auto Parts’ share price fell from $140.66 per share on May 23, 2017 to a closing price of $133.02 on May 24, 2017 — a decline of $7.64 (5.43%).

Subsequently, on August 15, 2017, Advance Auto Parts reported disappointing second quarter fiscal 2017 financial and operational results. The Company disclosed, in part, that “[c]omparable store sales for the quarter were flat.” On this news, Advance Auto Parts’ share price fell from $109.32 per share on August 14, 2017 to a closing price of $87.08 on August 15, 2017—a decline of $22.24 (20.34%).

Wolf Haldenstein Adler Freeman & Herz LLP  has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

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Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

Attorney Advertising. Prior results do not guarantee or predict a similar outcome.

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