Winnebago Industries Faces Securities Investigation Amid Allegations of Misleading Investors
NEW YORK, November 10, 2024 - Rosen Law Firm, a prominent global investor rights law firm, announced today that it is actively investigating potential securities claims against Winnebago Industries, Inc. (NYSE: WGO). The investigation stems from recent allegations that the company may have provided materially misleading information to the public, potentially affecting its shareholders.
The scrutiny on Winnebago intensified after a report by Hunterbrook Media on September 23, 2024, titled “‘Grand Deception’ - Winnebago Muzzles Outcry Over Major Problem That Owners Say Makes RVs Dangerous, Untowable, Worthless.” The article highlighted severe issues with Winnebago’s best-selling Grand Design RVs, pointing out that these vehicles were suffering from frame failures, which could impact thousands of units sold for over a billion dollars. According to Hunterbrook, these defects not only led to costly repairs and safety hazards but also made some RVs unroadworthy.
The report further alleged that Winnebago had been using non-disclosure agreements (NDAs), buybacks, and online censorship to suppress complaints about these frame failures.
Following the publication of these allegations, Winnebago’s stock price took a hit, dropping $1.35 per share, or 2.28%, closing at $57.76 on the day of the report.
Investors who have put money into Winnebago securities are urged to explore their legal options. Rosen Law Firm, known for its expertise in securities class actions and shareholder derivative litigation, is representing investors on a contingency fee basis, ensuring that there are no out-of-pocket costs for shareholders. The firm is noted for its significant settlements, including the largest securities class action settlement against a Chinese company, and has been ranked by ISS Securities Class Action Services for its number of settlements.
Laurence Rosen, Esq., from Rosen Law Firm, emphasized the importance of choosing experienced counsel in such matters. “We encourage investors to select qualified counsel with a track record of success. Our firm has a history of securing substantial recoveries for investors, and we are committed to doing the same in this case,” Rosen stated.
For those affected, further details and the opportunity to join the investigation can be accessed at Rosen Law Firm's case page. The firm invites shareholders to submit their information to potentially join the litigation.
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
case@rosenlegal.com
www.rosenlegal.com
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