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Investor Alert: Kaplan Fox Investigates Dorman Products, Inc.

NEW YORK, March 4, 2020 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Dorman Products, Inc. ("Dorman" or the "Company") (NASDAQ: DORM).  Investors who purchased Dorman securities may be affected.

On February 24, 2020, Dorman issued a press release announcing its fourth quarter and fiscal 2019 financial results.  The Company reported fourth quarter 2019 net sales of $239.6 million, down 8% compared to net sales of $260.3 million in the fourth quarter of 2018.  Dorman also disclosed that its adjusted gross margin was 32.8% in the fourth quarter compared to $37.8% in the same quarter of 2018.  Dorman attributed the adjusted gross margin decline primarily to the following:

  • Increased customer return provisions of $11.2 million;
  • A $2.8 million pre-tax charge related to historical underpayment of duties to US Customs arising from the misclassification of certain imported products over a five-year period; and
  • Redundant overhead costs of $1.9 million as the Company ramped up production at a new distribution facility.

Following these disclosures, Dorman's common stock fell $10.35 per share, or 13.5%, to close at $66.34 per share on February 24, 2020.

If you purchased Dorman securities and would like to discuss our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling 800-290-1952. 

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about this investigation, your rights, or your interests, please contact:

Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: dhall@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4700
Fax:  (415) 772-4707
E-mail: lking@kaplanfox.com

Cision

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SOURCE Kaplan Fox & Kilsheimer LLP