Final Approval Of $49.25M Settlement In Advance Auto Stock-Drop Suit Sought

Mealey's (May 12, 2022, 1:51 PM EDT) -- WILMINGTON, Del. — The lead plaintiff in a securities class action against automotive aftermarket parts provider Advance Auto Parts Inc. (AAP), two of its senior executives, an investor and the investor’s CEO asked a federal judge in Delaware on May 9 to grant final approval of a $49.25 million settlement in a lawsuit alleging that the defendants mispresented the company’s fiscal year 2017 financial guidance, arguing that the settlement is fair, reasonable and adequate....