An investigation on behalf of investors of Advance Auto Parts, Inc. (NYSE:AAP) shares over potential securities laws violations by Advance Auto Parts, Inc. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Advance Auto Parts, Inc. (NYSE:AAP) concerning whether a series of statements by Advance Auto Parts, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Roanoke, VA based Advance Auto Parts, Inc. provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. Advance Auto Parts, Inc. reported that its Total Revenue declined from over $9.73 billion for the 52 weeks period that ended on January 2, 2016 to over $9.56 billion for the 52 weeks period that ended on December 31, 2016 and that its Net Income over those time periods declined from $473.40 million to $459.62 million.

On August 15, 2017, Advance Auto Parts, Inc reported its second quarter fiscal 2017 financial and operational results and disclosed that [c]omparable store sales for the quarter were flat. Additionally, Advance Auto reduced its financial and operational guidance for fiscal 2017.

Shares of Advance Auto Parts, Inc. (NYSE:AAP) declined from $174.79 per share in January 2017 to as low as $79.38 per share in November 2017.