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SWK.US
id: 641

Stanley Black & Decker (SWK) COVID Case on Misleading

D. Connecticut
Court
3:23-CV-00369
Case number
28 Oct 2021
Class period Start
28 Jul 2022
Class period End
23 May 2023
Lead Plaintiff motion deadline
  • Stanley Black & Decker stated significantly slower demand & sharp projection cut.
  • $SWK price declined by over 16%, damaging investors.
  • Investors suspect $SWK and its officers of misleading.
On July 28, 2022, Stanley Black & Decker (SWK) issued financial and operational results for Q2 2022, and the press release stated that “the macroeconomic environment—including inflation, rising interest rates and significantly slower demand in late May and June—drove the majority of the challenges we faced this quarter”, “the softening of the demand environment accelerated rapidly during the last portion of the quarter”, and that “net sales for the quarter were … partially offset by lower volume (-13%).”.

On this news, the $SWK price declined by over 16%, damaging investors.

The financial media and analysts were quick to react to the news, with analysts from Mizuho Financial Group stating that the massive guidance cut “truncates anything that occurred in the quarter”, adding “this is significantly worse than we could have imagined.”

Taking all representations and appeared results into account, Investors have reasons to suspect $SWK and its officers of misleading statements and representations.
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
28 July 2022
Filing date
24 March 2023
Lead Plaintiff Deadline
23 May 2023
Judge
Hon. Kari A. Dooley
Collecting participants…

Stanley Black & Decker Inc

Stanley Black & Decker, Inc. provides hand tools, power tools, outdoor products, and related accessories in the United States, Canada, Other Americas, Europe, and Asia. Its Tools & Outdoor segment ...

    Ticker
    SWK.US
    ISIN
    US8545021011
    CIK
    93556
    Sector
    Industrials
    Industry
    Tools & Accessories
    Country
    USA
    Address
    1000 Stanley Drive, New Britain, CT, United States, 06053