NEW YORK–(BUSINESS WIRE)–Bernstein Liebhard, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of Dorman Products Inc. (“Dorman” or the “Company”) (NASDAQ: DORM) from allegations that Dorman might have issued misleading information to the investing public.
If you purchased Dorman securities, and/or would like to discuss your legal rights and options please visit Dorman Shareholder Investigation or contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected].
On February 24, 2020, Dorman issued a press release which disclosed to investors that “[d]uring the fourth quarter, [Dorman] recorded an estimated pre-tax charge of $2.8 million ($2.3 million after tax or $0.07 per diluted share) related to the underpayment of duties to U.S. Customs arising from the misclassification of certain imported products over a five-year period. The charge, which is expected to be one-time in nature, follows an internal review and the Company’s notification to U.S. Customs of its election to submit to a voluntary prior disclosure process to rectify historical misclassifications and underpayment of duties, as previously reported in the Company’s SEC filings. Since discovering the misclassifications, the Company has taken corrective actions with respect to the ongoing classification of products and payment of duties.”
On this news, the price of Dorman’s common stock plummeted during intraday trading.
If you purchased Dorman securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/dormanproductsinc-dorm-shareholder-class-action-lawsuit-stock-fraud-253/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected].
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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