CLX INVESTIGATION: Robbins Geller Rudman & Dowd LLP Announces Investigation into The Clorox Company and Encourages Investors with Substantial Losses or Witnesses with Relevant Information to Contact the Firm
Robbins Geller Rudman & Dowd LLP, a renowned complex class action firm, is currently investigating potential violations of U.S. federal securities laws involving The Clorox Company (NYSE:CLX). The investigation focuses on whether Clorox, along with certain top executives, made false and/or misleading statements or failed to disclose material information to investors. If you have any information that could assist in this investigation or if you are a Clorox investor who suffered a loss and would like to learn more, you can provide your information through the provided link or contact attorney J.C. Sanchez of Robbins Geller.
Clorox, a multinational manufacturer and marketer of consumer and professional products, recently disclosed unauthorized activity on some of its Information Technology (IT) systems. This incident has caused disruptions to parts of Clorox’s business operations. In response, the company implemented its business continuity plans and began manual ordering and processing procedures at a reduced rate of operations. Unfortunately, Clorox has experienced an elevated level of consumer product availability issues due to order processing delays and product outages resulting from the cybersecurity attack.
As a result of these challenges, Clorox has revised its preliminary financial results for the first quarter of fiscal 2024. The company now expects a decrease in net sales by 28% to 23% compared to the year-ago quarter. Organic sales are also anticipated to decrease by 26% to 21% for the quarter, contrary to Clorox’s prior expectations of mid-single-digit growth. Gross margin is expected to be down from the year-ago quarter, while adjusted EPS is projected to be a loss of $0.40 to $0.00 due to the impact of the cybersecurity attack.
Robbins Geller is a highly respected firm in the field of securities fraud cases, consistently recovering substantial amounts for investors. In fact, the firm secured over $1.75 billion for investors in 2022, ranking #1 on the ISS Securities Class Action Services Top 50 Report for the third consecutive year. Over the past three years alone, Robbins Geller has recovered nearly $5.3 billion for investors, more than any other plaintiffs’ firm. With 200 lawyers across 10 offices, Robbins Geller has a proven track record of obtaining some of the largest securities class action recoveries in history.
While this investigation highlights the challenges faced by Clorox due to the cybersecurity attack, it also emphasizes the importance of holding companies accountable for any potential violations of securities laws. Robbins Geller’s dedication to representing plaintiffs in complex class action cases ensures that investors’ interests are protected. As the investigation progresses, it will shed light on the extent of any false or misleading statements made by Clorox and its executives.
Please note that this article is based on the information provided in the press release and does not guarantee any specific outcomes. Services performed by attorneys at Robbins Geller may vary across their offices. For more information, please refer to the contact details provided.