Malibu Boats (MBUU) Sales Inflating Case

S.D. New York

Court

1:24-cv-03254

Case number

11/04/2022

Class period Start

04/11/2022

Class period End

$MBUU stockholder filed a claim vs. Malibu Boats for engaging in a scheme with the goal of distorting information about its business, operations, and prospects.
On February 20, 2024, $MBUU fell 9.1%, losing $88M+ of shareholder value on the news of CEO leaving the Company.
Then in two consecutive trading sessions on April 12 and 15, 2024, $MBUU lost $116M of shareholder value when the Company disclosed it was being sued by a major dealer, Tommy’s.
Lawsuit filed by Tommy’s accuses Malibu of engaging in a scheme to artificially inflate its sales, market share, and stock value. The scheme included
over manufacturing
moving its highest priced, highest margin, slow moving boat inventory into dealerships of one of its top dealers, Tommy's
recognizing a sale when the dealer takes delivery of the boat, not when it has been sold to the end user.
withhholding payment of incentives for nearly two years, then suddenly cutting ties with Tommy’s.
It also claims that Company's CEO departed due to his role in this scheme.

Considering all the representations, investors have reasons to suspect that Malibu Boats was involved in a scheme to artificially inflate its major financial and business indicators.

Malibu investors can join this case to be notified about potential recovery.

One of the investors has already filed a class action against the Company for engaging in a scheme to misrepresent its business and financial performance in S.D. New York court.

Case Status

Motion to dismiss

Alleged Offence

Misleading Statements,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

04/12/2024

Filing date

04/29/2024

Judge

Hon. Lorna G. Schofield

Malibu Boats (MBUU) Sales Inflating Case

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