Levi & Korsinsky notifies investors that it has commenced an investigation into Genuine Parts Company (NYSE: GPC) concerning potential violations of the federal securities laws.
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.
If you suffered a loss on your Genuine Parts Company securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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