Advanced Auto Parts Requests to Dismiss Class Action Filed by Investors

Court: E.D. North Carolina

Case: 5:23-cv-00563

Advanced Auto Parts has requested the court to dismiss the lawsuit filed by investors. The court will determine whether the case proceeds.

What is this lawsuit about?

On May 31, 2023, Advanced Auto Parts (AAP) reported disappointing financial results and revealed that its new pricing strategy had failed, forcing the company to revise its 2023 guidance downward.

Following this, AAP dropped 35%, erasing over $2.3 billion in shareholder value.

Then, on October 9, 2023, shareholders filed a claim against Advanced Auto Parts.

What can you do to recover your losses now?

We’re keeping track of all updates and will notify AAP investors about potential recovery.

More than 600 companies are currently facing securities class action lawsuits, and over 100 are already paying settlements. Connect your brokerage account to automatically check which ones you may have missed.