Robbins Geller Investigates Potential Securities Law Violations by The Clorox Company

Robbins Geller Rudman & Dowd LLP, a renowned law firm specializing in complex class action cases, is currently investigating potential violations of U.S. federal securities laws by The Clorox Company (NYSE:CLX). The investigation focuses on whether Clorox and certain top executives made false or misleading statements and failed to disclose material information to investors.

Clorox, a multinational manufacturer and marketer of consumer and professional products, recently disclosed unauthorized activity on some of its Information Technology (IT) systems. The cybersecurity attack caused disruptions to parts of Clorox’s business operations, leading to a reduced rate of order processing and elevated consumer product availability issues.

As a result of the cybersecurity attack, Clorox released preliminary financial results for the first quarter of fiscal 2024. The company expects a significant decrease in net sales and organic sales compared to the previous year, attributing the decline to the impact of the cyber incident. Gross margin is also anticipated to be down, contrary to previous expectations of an increase. Additionally, Clorox projects an adjusted EPS loss ranging from $0.40 to $0.00 due to the cybersecurity attack’s impact.

Robbins Geller, known for its successful representation of plaintiffs in securities fraud cases, has a track record of recovering substantial amounts for investors. In 2022 alone, the firm recovered over $1.75 billion for investors, securing the top spot on the ISS Securities Class Action Services Top 50 Report for the third consecutive year. Over the past three years, Robbins Geller has recovered nearly $5.3 billion for investors, surpassing any other plaintiffs’ firm.

If you have 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 directly.

Please note that past results do not guarantee future outcomes, and services may be performed by attorneys in any of Robbins Geller’s offices.

For more information about Robbins Geller’s securities fraud litigation services, visit the provided link.

[Source: Business Wire]