Shoals Technologies Group, Inc. USDC – Middle District of Tennessee April 5, 2024 CLASS PERIOD: MAy 17, 2022 – November 7, 2023LEAD PLAINTIFF DEADLINE: may 21, 2024 Join Investigation Principle Contacts Pamela MayerPMayer@kaplanfox.comLaurence D. KingLKing@kaplanfox.com Kaplan Fox & Kilsheimer LLP Reminds Shoals Investors (NASDAQ: SHLS) of a Class Action Lawsuit and May 21, 2024 Lead Plaintiff Deadline Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) reminds investors that a complaint has been filed on behalf of purchasers of Shoals Technologies Group, Inc. (“Shoals” or the “Company”) common stock (NASDAQ: SHLS) between May 17, 2022 and November 8, 2023 (the “Class Period”). Click Here to Join Investigation. If you acquired Shoals common stock and would like to discuss our investigation, please click here or contact us by emailing pmayer@kaplanfox.com or by calling (646) 315-9003. WHEN IS THE DEADLINE? If you are a member of the proposed Class, you may move the court no later than May 21, 2024 to serve as a lead plaintiff for the purported class. If you have losses, we encourage you to contact us to learn more about the lead plaintiff process. According to the complaint, during the Class Period and undisclosed to investors, Shoals was aware that a significant portion of its wire harnesses had defects. Further, according to the complaint, on November 7, 2023, Shoals filed its Quarterly Report on Form 10-Q for the third quarter of 2023 with the United States Securities and Exchange Commission and held an accompanying earnings call in which it revealed that an issue involving excessive pull back of wire insulation, or “shrinkback,” was far more severe than previously disclosed. Specifically, the Company reported that the shrinkback issue affected 30% of Shoals’ harnesses installed between 2020 and 2022, booked a $50.2 million warranty expense for the quarter related to the shrinkback issue, and provided a range of potential loss related to the shrinkback issue of $59.7 million to $184.9 million. Following this news, the price of Shoals common stock fell $3.28 per share over the next two trading days, or 20.2%, to close at $12.95 per share on November 9, 2023. WHY CONTACT KAPLAN FOX Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. If you have any questions about this Notice, your rights, or your interests, please contact: Pamela A. MayerKAPLAN FOX & KILSHEIMER LLP800 Third Avenue, 38th FloorNew York, New York 10022(646) 315-9003E-mail: pmayer@kaplanfox.com Laurence D. KingKAPLAN FOX & KILSHEIMER LLP1999 Harrison Street, Suite 1560Oakland, California 94612(415) 772-4704Fax: (415) 772-4707E-mail: lking@kaplanfox.com Connect with Kaplan Fox. Receive a complimentary case review now. Contact Us PowerSchool Holdings, Inc. See the Case Jabil, Inc. See the Case Zoetis, Inc. See the Case Globe Life Inc. See the Case Uniswap Labs See the Case Luna Innovations Incorporated See the Case Perion Network Ltd. See the Case Autodesk, Inc. See the Case Shoals Technologies Group, Inc. See the Case Vuzix Corporation See the Case bluebird bio, Inc. See the Case Sonder Holdings Inc. See the Case
