On July 20, 2016, Polaris stated its earnings guidance for the full year 2016 of $6.00 to $6.30 per diluted share. On July 25, 2016, Polaris issued a stop-ride/stop-sale advisory, awaiting a formal recall for MY2016 RZR Turbo off-road vehicles for potential fire hazard. Then on September 12, 2016, Polaris restated and lessened its earnings guidance for the full year 2016 to $3.30 to $3.80 per diluted share. The reduced guidance is attributed to other RZR thermal-related problems and the effect of the stop ride/stop sale notification. Following this news, Polaris stock dropped $4.05 per share or over 5% to close at $76.79 per share on September 12, 2016.
If you are aware of any facts relating to this investigation, or purchased shares of Polaris, you can assist this investigation by visiting the firm's site: http://www.bgandg.com/pii. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484 or via email email@example.com. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
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