The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) the Company’s procedures and policies regarding tooling and equipment maintenance in its Tyman Mexico facility were significantly “underinvested”; (2) as a result, the Company’s tooling and equipment conditions had significantly degraded to near “catastrophic” levels; (3) that, as a result of the foregoing, the Company was likely to incur significant costs, “pushing out the timing” of expected benefits from the Tyman integration; (4) that Quanex had previously identified the foregoing issues; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.