Stanley Black & Decker Execs, Board Misled on Demand, Suit Says

Stanley Black & Decker Inc. executives and directors allegedly misled investors about product demand and liquidity issues, a shareholder derivative suit says.

The tool manufacturer’s leadership allegedly issued false and misleading statements, touting the robust demand for its products beyond a temporary spike in home remodeling and do-it-yourself projects in the early days of the Covid-19 pandemic, despite the negative impacts of rising interest rates and inflation on that demand.

The company’s board and officers also allegedly failed to disclose how reorganization, share repurchasing and dividend growth impacted its liquidity and a related contraction in sales volume, according to the ...