Malibu Boats, Inc. (NASDAQ: MBUU) Investor Alert: Lawsuit seeks to Recover Losses for Investors


A lawsuit was filed in the U.S. District Court for the Southern District of New York by an investor who bought shares of Malibu Boats, Inc. (NASDAQ: MBUU) alleging that the company violated federal securities laws in relation to some allegedly false and misleading statements made between November 4, 2022, and April 11, 2024.

You have specific options, and for some investors, there are tight deadlines, if you bought a sizable quantity of Malibu Boats, Inc. (NASDAQ: MBUU) shares between November 4, 2022 and April 11, 2024, and/or if you bought any NASDAQ: MBUU shares before November 2022 and you still own any of those shares. June 28, 2024 is the deadline. NASDAQ: Investors in MBUU should get in touch with the Shareholders Foundation by phone at +1(858) 779-1554 or via email at [email protected].

Malibu Boats, Inc. is a company located in Loudon, TN that creates, develops, engineers, builds, markets, and sells a variety of recreational powerboats.

According to Malibu Boats, Inc., during the 12-month period ending June 30, 2022, its Total Revenue increased to over $1.21 billion; however, during the same period in 2023, it increased to over $1.388 billion.

Malibu Boats, Inc. announced on February 20, 2024, prior to the opening of the market, that the CEO of the company had reached a mutual agreement to step down from his position.

After the market closed on April 11, 2024, Tommy s Boats (Tommy s) filed a complaint against the company, which was disclosed by Malibu Boats, Inc. The Complaint, which claimed the Company participated in a complex strategy to dump approximately $100 million worth of inventory into Tommy dealerships since late 2022 in order to falsely inflate Malibu’s sales performance, was made public by a number of media sources after the Company released news of the litigation. The Complaint claims that Tommy’s dealerships were required to carry the Company’s highest-priced, highest-margin, slow-moving Malibu branded inventory (as opposed to the lower-margin, faster-moving Axis brand). Whether or not the boat has been sold to the final user, Malibu Boats considers a sale to have occurred when the dealer accepts delivery of the vessel. Therefore, even when sales to end users decreased, the Company was able to portray itself as having robust wholesale demand and sales thanks to this technique. According to the Complaint, a few days before the Company announced the breakup with Defendant Springer, certain of Malibu’s stockholders acknowledged to Tommy’s dealership principle that Malibu was, in fact, purposefully stocking Tommy’s full of merchandise. The complaint also claimed that the company abruptly severed its relationship with Tommy’s after delaying payment of incentives for almost two years.

Malibu Boats, Inc. (NASDAQ: MBUU) saw a decrease in share price from $65.45 on February 02, 2023, to $32.90 on April 25, 2024.

In the complaint, the plaintiff claims that the defendants broke federal securities laws while selling common shares of Malibu Boats, Inc. (NASDAQ: MBUU) between November 4, 2022 and April 11, 2024. More specifically, the plaintiff claims that between November 4, 2022 and April 11, 2024, the Defendants failed to disclose to investors that Malibu Boats engaged in an elaborate scheme to over manufacture and pump nearly $100 million of its highest priced, highest margin, slow moving boat inventory into fifteen Tommy s dealerships , that, as a result, the Company artificially inflated Malibu s sales performance, market share, and stock value, that the Company was withholding certain incentives and rebates from its dealers, that, as a result of the foregoing, the Company faced substantial risk of litigation from one of its top dealers, Tommy s, that the Company s CEO departed due to this role in this scheme, and that, as a result of the foregoing, Defendants positive statements about the Company s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Shareholders Foundation should be contacted by those who bought shares in Malibu Boats, Inc. (NASDAQ: MBUU) as they have certain alternatives.

Get in touch with Investors Foundation, Inc.Michael Daniels: +1-(858)-779-1554; 3111 Camino Del Rio North, Suite 42392108, San Diego(858)[email protected] is the fax number.

About The Shareholders Foundation, Inc.: We are a professional portfolio monitoring and settlement claim filing service that keeps investors informed about securities class actions, settlements, judgments, and other legal news pertaining to the stock and financial markets. We also conduct research on shareholder issues. With a vast network of contacts, Shareholders Foundation, Inc. provides support, guidance, and aid to each and every shareholder. It is not a law firm, The Shareholders Foundation, Inc. The Shareholders Foundation is not involved in the filed, reached, or settled cases, investigations, or settlements mentioned. The public is offered this information as a service. It should not be relied upon and is not meant to be legal advice.

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