Federman & Sherwood Announces the Filing of a Securities Class Action Lawsuit against Advance Auto Parts, Inc.

Oklahoma City, OK (February 12, 2018) – On February 6, 2018, a securities class action lawsuit was filed in the United States District Court for the District of Delaware against Advance Auto Parts, Inc. (NYSE: AAP). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is November 14, 2016 through August 15, 2017. More specifically, this litigation was filed because on May 24, 2017, the Company reported financial and operating results for the first fiscal quarter of 2017, including a quarterly sales decrease of 3.0%. The Company also reported a quarterly decrease in gross profit, “primarily driven by investments in the customer, inventory optimization efforts and supply chain expense deleverage due to the comparable store sales decline.” Further, the Company reported that its quarterly comparable store sales had declined 2.7%.

Then, on August 15, 2017, Advance Auto Parts reported disappointing second quarter fiscal 2017 financial and operational results. The Company disclosed, in part, that “[c]omparable store sales for the quarter were flat.”

Following this news, the Company’s share price fell an additional $22.24, or over 20.3%, to close at $87.08 on August 15, 2017.

Plaintiff seeks to recover damages on behalf of all Advance Auto Parts, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Monday, April 9, 2018 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.

To join this class action, click here to obtain an investor certification. Once complete, please email this form to rkh@federmanlaw.com, fax to us at (405) 239-2112 or send by regular mail to Federman & Sherwood, 10205 North Pennsylvania Avenue, Oklahoma City, OK 73120, ATTN: Robin.