NEW YORK, Aug. 14, 2017 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of HD Supply Holdings, Inc. ("HDS" or the "Company") (NASDAQ: HDS), concerning whether the board has breached its fiduciary duties to shareholders.
A recently filed class action pending the U.S. District Court for the Northern District of Georgia, C.A. No. 1:17-cv-02587-ELR, alleges that Company insiders made false or misleading statements and failed to disclose that: (a) HDS could not meet its full year 2017 growth and operational leverage targets; (b) the operational recovery of its Facilities Maintenance supply chain was not "on track" as the Company had claimed; and (c) HDS was divesting its key Waterworks segment. During this time, when HDS's stock price traded at artificially inflated levels, Joseph DeAngelo, Chief Executive Officer and Chair of HDS, sold $54 million of his personal Company stock.
Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own HDS shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
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