Quanex Investors Alert: Time Running Out to Lead Class Action Lawsuit Over Alleged Securities Fraud

New York, NY – Faruqi & Faruqi, LLP, a leading national securities law firm, is sounding the alarm for investors of Quanex Building Products Corporation (NYSE: NX). Time is of the essence for those who suffered losses, as the crucial deadline to apply for lead plaintiff status in a pending class action lawsuit is fast approaching: September 23, 2024.

The lawsuit, filed in the United States District Court for the Southern District of Texas, centers on serious allegations that Quanex—a prominent manufacturer of components for the fenestration industry—violated federal securities laws.

Specifically, the complaint alleges that between September 29, 2022, and April 11, 2024 (the “Class Period”), Quanex made materially false and misleading statements, and failed to disclose critical adverse facts about its business operations, financial health, and future prospects.

At the heart of the allegations are Quanex's representations regarding its European window components business.

The lawsuit claims that the Company provided a misleadingly optimistic outlook, failing to adequately disclose the true and severe impact of the ongoing Russia-Ukraine conflict on this vital segment. Investors were allegedly led to believe that the European operations were resilient and performing well, when in fact, the conflict was causing significant disruptions and financial strain.

According to the complaint, Quanex's stock traded at artificially inflated prices during the Class Period due to these alleged misrepresentations.

The truth, however, began to unravel, leading to sharp declines in the Company’s stock price as the market reacted to disclosures concerning the real state of its European business and the adverse effects of geopolitical events. These revelations caused substantial harm to investors who had relied on Quanex's earlier optimistic portrayals.

Faruqi & Faruqi is urging all investors who purchased Quanex stock during the specified Class Period and suffered significant losses to consider their legal options.

Becoming a lead plaintiff allows you to direct the litigation and choose lead counsel, playing a pivotal role in recovering losses for yourself and other class members. It’s an opportunity to hold the Company accountable for its alleged actions.

If you wish to serve as lead plaintiff, you must move the Court no later than September 23, 2024.

You do not need to be a lead plaintiff to participate in any potential recovery. However, lead plaintiffs often benefit from greater involvement and oversight of the legal process. Faruqi & Faruqi, with its extensive experience in securities litigation and a proven track record of recovering hundreds of millions of dollars for investors nationwide, is prepared to assist you.

For more information, or to discuss your rights and potential claim, please contact Faruqi & Faruqi partner Joshua H.

Wilson directly at jwilson@faruqilaw.com or call 877-247-4292 (Toll Free). The firm offers free consultations to investors and has offices in New York, Pennsylvania, Georgia, and California.

Remember, the September 23, 2024, deadline is critical. Don’t miss your chance to seek justice and potentially recover your investment losses.