LOS ANGELES–(BUSINESS WIRE)–$DORM #DORM—The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Dorman Products, Inc. (“Dorman” or “the Company”) (NASDAQ: DORM) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Dorman announced its Fourth Quarter net sales on February 24, 2020. The Company reported sales of only $239.6 million, a nearly 10% decrease year-over-year. The Company blamed its poor performance on “an increase in customer return provisions (resulting in a reduction of net sales of $11.2 million) primarily from new business wins, including a recently launched premium chassis program with a large national retail customer.” Based on this news, shares of Dorman dropped by more than 13% on the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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