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The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Hayward Holdings, Inc. (HAYW) Investors

The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Hayward Holdings, Inc. (“Hayward” or the “Company”) (NYSE: HAYW) common stock between March 2, 2022 and July 27, 2022, inclusive (the “Class Period”). Hayward investors have until October 2, 2023 to file a lead plaintiff motion.

If you are a shareholder who suffered a loss, click here to participate.

On July 28, 2022, Hayward disclosed that it was expecting its channel partners to reduce its inventory on hand by approximately 4 to 6 weeks in the second half of 2022. As a result, the Company updated its full year 2022 outlook expecting net sales to decline between 2% and 6% year-over-year, compared to prior guidance expecting net sales growth between 9% and 12% year-over-year.

On this news, the price of Hayward’s stock price fell $2.50, or 17.9%, to close at $11.21 per share on July 28, 2022, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Hayward and its management had engaged in a channel-stuffing scheme designed to artificially boost Hayward’s short-term sales and earnings; (2) that Hayward had flooded its channel partners with inventory that they did not want or need at a level that far outpaced then-existing consumer demand; (3) that Hayward’s channel partners were suffering from an inventory glut as a result of the channel-stuffing scheme that would require a massive destocking in the second half of 2022; (4) that Hayward’s channel-stuffing scheme had cannibalized future sales, materially impairing the Company’s ability to sell to its customers; (5) that the demand for pool equipment had slowed down, which, combined with flooding channel partners with more inventory, led to an inventory glut and the need for these channel partners to reduce inventory levels; and (6) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

Follow us for updates on Twitter: twitter.com/FRC_LAW.

If you purchased Hayward securities during the Class Period, you may move the Court no later than October 2, 2023 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you purchased Hayward securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Hayward Holdings, Inc. (HAYW) Investors

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