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The filed complaint alleges that Genuine Parts Company made materially false and/or misleading statements and/or failed to disclose that: On October 22, 2024, Genuine reported 3Q 2024 earnings that fell well below expectations and then lowered its guidance for the year. Management attributed the decrease to weakness in Europe and challenges in its industrial segment. Analysts expressed concern at the Company’s “anemic industrial sales” as well as flat growth in automotive sales. Following this news, GPC’s stock price fell by $30.01 per share, or approximately 21% to close at $113.11 per share.
In order to be eligible to join the GPC class action lawsuit, you must have incurred a loss on shares of Genuine Parts Company purchased during the class period listed above.
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