The company attributed a significant portion of its poor performance to inventory destocking within its Pool segment. According to the disclosure, this trend negatively impacted segment sales by approximately $170 million and reduced segment income by $105 million. This financial shortfall, coupled with the unexpected exit of the CFO, has triggered concerns regarding potential violations of federal securities laws.

Legal representatives at Glancy Prongay Wolke & Rotter LLP are currently reviewing whether the company misled shareholders prior to the mid-July announcement. The firm is inviting investors who incurred losses during this period to come forward as it assesses the viability of a class action claim. Beyond the shareholder investigation, legal counsel is also soliciting information from potential whistleblowers who may possess non-public details regarding the company’s internal operations.