New York, New York–(Newsfile Corp. – September 28, 2023) – Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international shareholder and consumer rights litigation firm, has filed a securities class action lawsuit in the United States District Court for the District of New Jersey against Hayward Holdings, Inc. (“Hayward” or the “Company”) NYSE: HAYW, Hayward President and Chief Executive Officer, Kevin Holleran, and Hayward Chief Financial Officer, Eifion Jones, as well as a private equity firm and an investment advisor, both of which controlled Hayward and/or its management (collectively, “Defendants”). The Class Action asserts claims under §§10(b) and 20(a) of the Securities Exchange Act of 1934 (15 U.S.C. §§78j(b) and 78t(a)) and U.S. Securities and Exchange Commission Rule 10b-5 promulgated thereunder (17 C.F.R. §240.10b-5) on behalf of all persons or entities that purchased Hayward common stock between October 27, 2021 and July 28, 2022, inclusive (the “Class Period”), and were damaged thereby (the “Class”). The Class Action filed by Scott+Scott is captioned: Erie County Employees’ Retirement System v. Hayward Holdings, Inc., et al, Case No. 2:23-cv-20764.

Hayward designs, manufactures, and markets a broad portfolio of pool equipment and associated automation systems.

The Class Action alleges that, during the Class Period, Defendants issued several false and misleading statements and/or failed to disclose adverse facts about the Company’s business and prospects. Specifically, Defendants repeatedly claimed that the demand for Hayward’s products purportedly observed were due to, among other things, Hayward’s “agile manufacturing capabilities,” “competitive positioning,” “leading product portfolio,” or “innovative technology,” when, in fact, Hayward and its management team had engaged in a channel-stuffing scheme designed to artificially boost Hayward’s short-term sales and earnings.

On July 28, 2022, Hayward released second quarter 2022 financial results and announced that it was negatively revising its 2022 guidance to reflect inventory reductions by its channel partners. On this news, the price of Hayward’s common stock declined 18.23%.

Lead Plaintiff Deadline

If you purchased Hayward common stock during the Class Period and were damaged thereby, you are a member of the “Class” and may be able to seek appointment as lead plaintiff.

If you wish to apply to be lead plaintiff, a motion on your behalf must be filed with the U.S. District Court for the District of New Jersey no later than October 2, 2023. The lead plaintiff is a court-appointed representative for absent class members of the Class. You do not need to seek appointment as lead plaintiff to share in any Class recovery in the Class Action. If you are a Class member and there is a recovery for the Class, you can share in that recovery as an absent Class member.

What You Can Do

You may contact an attorney to discuss your rights regarding the appointment of lead plaintiff or your interest in the Class Action. You may retain counsel of your choice to represent you in the Class Action.

About Scott+Scott

Scott+Scott has significant experience in prosecuting major securities, antitrust, and consumer rights actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, Virginia, and Ohio.

This may be considered Attorney Advertising.

CONTACT:
Jonathan Zimmerman
Scott+Scott Attorneys at Law LLP
230 Park Avenue, 17th Floor, New York, NY 10169
(888) 398-9312
jzimmerman@scott-scott.com

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