LOS ANGELES–(BUSINESS WIRE)–$DORM #classaction—The Law Offices of Frank R. Cruz announces an investigation on behalf of Dorman Products, Inc. (“Dorman” or the “Company”) (NASDAQ: DORM) investors concerning the Company and its officers’ possible violations of federal securities laws.
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On February 24, 2020, Dorman announced fourth quarter 2019 net sales of only $239.6 million, representing an almost 10% year-over-year decrease. The Company attributed the declining sales to “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.”
On this news, the Company’s share price fell $10.35, or over 13%, to close at $66.34 per share on February 24, 2020, on unusually heavy trading volume.
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If you purchased Dorman securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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