IRVINE, Calif.--(BUSINESS WIRE)--
Khang & Khang LLP (the “Firm”) announces a class action lawsuit has been filed against Polaris Industries Inc. (“Polaris” or the “Company”) (NYSE: PII). Investors who purchased or otherwise acquired shares between January 26, 2016 and September 11, 2016 inclusive (the “Class Period”), are encouraged to contact the Firm prior to the November 15, 2016 lead plaintiff motion deadline.
If you purchased shares of Polaris during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at [email protected].
There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
According to the complaint, the Company made false and/or misleading statements and/or failed to disclose that: Polaris was unable to sufficiently validate the initially identified repair for certain of its recalled RZR vehicles; that the Company would ultimately need to implement a more complex and expensive repair solution; that the financial impact of RZR vehicle recalls was greater than the Company had disclosed to investors; that Polaris overstated its full-year 2016 guidance; and that as a result of the above, the Company’s public statements were materially false and misleading at all relevant times. On September 12, 2016, Polaris lowered its earnings guidance range for the full year 2016. The lower guidance is related to the impact of the Company’s stop-ride/stop-sale advisory on July 25, 2016 pending a formal recall for the MY2016 RZR Turbo off-road vehicles due to potential fire hazard. When this news was announced to the public, shares of Polaris fell in value, causing investors harm.
If you wish to learn more about this lawsuit, or if you have any questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or via e-mail at [email protected].
This press release may constitute Attorney Advertising in certain jurisdictions.
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