NEW YORK, Sept. 06, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of RBC Bearings Incorporated (“RBC” or the “Company”) ROLL. Those investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, extension 9980.

The investigation concerns whether RBC and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

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On August 4, 2022, RBC announced in a filing with the US Securities and Exchange Commission that “the previously released consolidated financial statements for the years ended April 2, 2022, April 3, 2021 and March 28, 2020 and the consolidated financial statements for the quarters included therein (the “Affected Periods”) included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on May 26, 2022 contained an error relating to non-cash accounting Stock-based compensation granted to the company’s CEO and COO. Because of this error, the Audit Committee determined that the Company’s consolidated financial statements for the affected periods contained in the 2022 Annual Report on Form 10-K should not be relied upon and should be restated by restating selling, general and administrative expenses to reflect the non-cash stock-based compensation that should have been recognized in each of the affected periods.”

As a result of this news, RBC’s share price fell $16.68 per share, or 6.71%, to close at $231.91 per share on August 4, 2022.

The Pomerantz law firm, with offices in New York, Chicago, Los Angeles and Paris, is one of the leading law firms in the areas of corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, known as Dean of the Class Attorney’s Association, the Pomerantz firm pioneered the field of securities class actions. Today, more than 80 years later, the law firm Pomerantz…