Fox Factory Holding Corp. Receives CPSC Approval to Begin Its Recall Program for Certain Bicycle FLOAT X2 Shock Absorber Products
FOX previously issued a stop sell and use announcement on October 12, 2016 while waiting for approval from the CPSC to initiate its voluntary recall program.
SCOTTS VALLEY, Calif., November 1, 2016 — Fox Factory Holding Corp. (NASDAQ: FOXF) (the “Company”), today announced that its filing of a voluntary recall for certain bicycle FLOAT X2 shock absorber products due to a potential failure hazard has been approved by the CPSC.
Consumers should immediately stop using this product unless otherwise instructed. Retailers, distributors, and OEM customers should hold this product and stop sales and distribution until further instructed. It is illegal to resell or attempt to resell a recalled consumer product.
FOX believes that this voluntary recall will not have any material adverse effect on its financial results or current financial guidance.