Investigation in Progress — No Complaint Filed Yet
BG&G is actively investigating potential securities fraud claims against La-Z-Boy Incorporated. If a complaint is filed, this page will be updated. Investors are encouraged to contact us now to preserve their rights.
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of La-Z-Boy Incorporated (“La-Z-Boy” or “the Company”) (NYSE: LZB). Investors who purchased La-Z-Boy securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether La-Z-Boy has violated federal securities laws.
La-Z-Boy Investigation Details
La-Z-Boy Incorporated reported its fiscal first-quarter results, disclosing adjusted earnings per share of $0.43 on revenue of approximately $476 million, below analyst expectations for both earnings and revenue, and a GAAP net loss of approximately $2 million. The Company had previously projected first-quarter revenue of “$490-510 million, reflecting growth of up to 4%.” Management attributed the shortfall, in part, to lower wholesale volume and softness at Joybird. The Company also issued second-quarter sales guidance below Wall Street forecasts. Following this news, La-Z-Boy’s stock price opened approximately $7.14 per share, or 17.5%, lower than its previous closing price of $40.83 per share.
What’s Next for La-Z-Boy Investors?
If you are aware of any facts relating to this investigation or purchased La-Z-Boy securities, you can assist this investigation. You can also contact Peretz Bronstein or his client relations manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 917-590-0911
LZB — Stock Performance
About Bronstein, Gewirtz & Grossman, LLC
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
“Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace.”