Hayward Holdings Defeats Investor Suit Over Pool Supply Sales

Hayward Holdings Inc. and two major shareholders persuaded a federal court to dismiss a proposed investor class action alleging the pool supply company misrepresented its handling of inventory and sales.

The allegations about the company’s statements as the supply chain challenges of the Covid-19 pandemic eased, resulting in $100 million worth of unsold inventory, aren’t specific enough, Judge William J. Martini said Wednesday for the US District Court for the District of New Jersey. The investors’ claims against two investment companies that were majority shareholders—on the basis that directors affiliated with them signed forms containing challenged statements—are also dismissed, Martini ...