NEW YORK, NY / ACCESSWIRE / June 17, 2024 / Pomerantz LLP is investigating claims on behalf of investors of The Toro Company ("Toro" or the "Company") (NYSE:TTC). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Toro and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On May 21, 2024, Jehoshaphat Research published a report alleging, among other things, that Toro "has borrowed revenues and earnings from the future by selling excessive product into its dealer channel" and that the Company "set up a cliff" in its near-term operating cash flows worth $400 million or more.
On this news, Toro's stock price fell $3.77 per share, or 4.2%, to close at $86.23 per share on May 21, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP