LOS ANGELES, CA / ACCESSWIRE / February 7, 2018 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Advance Auto Parts, Inc. ("Advance Auto" or the "Company") (AAP) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company failed to disclose information pertinent to investors. On August 15, 2017, Advance Auto Parts reported disappointing second quarter results, including flat comparable store sales for the quarter and reductions in financial and operational guidance for fiscal year 2017. On this news, shares of Advance Auto Parts fell $22.24 per share or over 20% from its previous closing price to close at $87.08 per share on August 15, 2017.
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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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The Schall Law Firm
Brian Schall, Esq.
Sherin Mahdavian, Esq.
SOURCE: The Schall Law Firm