Pool Supplier Sued Over Chlorine Boom, Bust Misrepresentations

Leslie’s Inc.and its top executives allegedly misled investors about a sales boom related to chlorine shortages throughout the Covid-19 pandemic, attributing pool supply company’s success to growth initiatives rather than customers’ widespread stockpiling, a proposed class action suit says.

The impressive sales growth was instead based on artificial demand and excess panic buying, which Leslie’s concealed in public filings and statements, investors said in their lawsuit filed in US District Court for the District of Arizona.

Leslie’s allegedly issued multiple regulatory filings and press releases highlighting healthy consumer demand and projecting that the industry-wide shortage of pool chemicals could ...