We are investigating Helios Technologies, Inc. (HLIO) (“Helios” or the “Company”) for potential violations of the federal securities laws.
On April 9, 2020, during pre-market hours, Helios announced that its Board of Directors (the “Board”) had named its Chief Financial Officer as Interim President and Chief Executive Officer (“CEO”) of the Company, effective immediately. With regard to the transition, Helios disclosed that Wolfgang H. Dangel, who had until then been serving as the Company’s CEO, had “separated from the Company following the Board’s determination that he violated Company policy, demonstrated behavior that was inconsistent with the Company’s core values and Code of Business Conduct and Ethics, and also exhibited poor judgment involving a consensual relationship with an employee.” On this news, Helios’s stock price fell sharply during intraday trading on April 9, 2020.