Levi & Korsinsky, LLP announces the commencement of a class action lawsuit in the USDC for the District of Minnesota on behalf of shareholders of Polaris Industries Inc. (NYSE: PII) who purchased shares between February 20, 2015 and September 11, 2016.
The complaint alleges that during the Class Period, Polaris made false and/or misleading statements and/or failed to disclose that: (1) Polaris was unable to sufficiently validate the initially identified repair for certain of its recalled RZR vehicles; (2) that the Company would ultimately need to implement a more complex and expensive repair solution; (3) that the financial impact of RZR vehicle recalls was greater than the Company had disclosed to investors; (4) that Polaris overstated its full-year 2016
In 2015 and 2016, Polaris announced multiple recalls for numerous vehicles. Then in July 2016, Polaris issued a stop-ride/stop-sale advisory pending the recall of another vehicle, citing fire hazards. Then on September 12, 2016, Polaris lowered its earnings guidance range for the full year 2016 from $6.00 per share to between $3.30 and $3.80 per share. If you suffered a loss in Polaris you have November 15, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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