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FOX FACTORY HOLDING CORP. SHAREHOLDERS HAVE AN OPPORTUNITY TO RECOVER THEIR INVESTMENT LOSSES

Fox Factory Holding Corp.

Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired Fox Factory Holding Corp. (“Fox Factory” or the “Company”) (NASDAQ: FOXF) common stock between May 6, 2021 and November 2, 2023, inclusive. The lawsuit seeks to recover Fox Factory shareholders’ investment losses.

If you purchased common stock in Fox Factory between May 6, 2021 and November 2, 2023, inclusive, and would like to discuss your legal rights and/or options, please click “Join Class Action” above.

According to the Complaint, Fox Factory engineers, manufactures, and markets high-performance suspension products for numerous applications throughout the world. The majority of the Company’s sales come from suspension and related products for high-end mountain bikes, which fall within the Specialty Sports Group (“SSG”) segment.

On November 2, 2023, after the markets closed, Fox Factory reported that its net sales for the third quarter of fiscal year 2023 decreased 19.1% year-over-year due to “higher levels of inventory across various channels.”  In addition, Fox Factory cut its full-year sales guidance from between $1.67B and $1.70B to between $1.45B and $1.47B, citing continued inventory destocking in its SSG segment.

On this news, Fox Factory’s stock price fell $22.60, or 37.34%, to close at $60.53 per share on November 3, 2023.

If you wish to serve as lead plaintiff, you must move the Court no later than April 22, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for sixteen consecutive years.

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Contact Information:

Peter Allocco
Investor Relations Manager
Bernstein Liebhard LLP
https://www.bernlieb.com
(212) 951-2030
pallocco@bernlieb.com