The law firm of Kirby McInerney LLP is investigating potential claims against Shyft Group Inc. (“Shyft” or the “Company”) (NASDAQ: SHYF). The investigation concerns whether Shyft and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
Shyft manufactures and assembles specialty vehicles for the commercial vehicle and recreational vehicle industries.
On July 27, 2023, Shyft reported its quarterly financials which disclosed that the Company would significantly cut its full-year guidance. CEO Daryl Adams said, “We experienced challenges in the fleet vehicles and services business as market conditions deteriorated and operational inefficiencies remain. We continue to flex our operations while implementing additional cost reductions to reflect lower short-term demand.” On this news, the price of Shyft shares declined by $7.70 per share, or approximately 36.44%, from $21.13 per share to close at $13.43 on July 27, 2023.
If you purchased or otherwise acquired Shyft securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at firstname.lastname@example.org, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.
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