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SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of NAPCO Security Technologies, Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of October 30, 2023 - (NASDAQ: NSSC)
News provided byThe Gross Law Firm
Sep 19, 2023, 5:45 AM ET
NEW YORK, Sept. 19, 2023 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of NAPCO Security Technologies, Inc..
Shareholders who purchased shares of NSSC during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
CONTACT US HERE:
CLASS PERIOD: November 7, 2022 to August 18, 2023
ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) NAPCO failed to address any material weaknesses with internal controls regarding cost of goods sold ("COGS") and inventory; (2) NAPCO downplayed the severity of material weaknesses regarding their internal controls; (3) NAPCO's unaudited financial statements from September 30, 2022 to the present included "certain errors" such as overstating inventory and understanding net COGS, resulting in overstated gross profit, operating income and net income for each period; (4) as a result, NAPCO would need to restate its previously filed unaudited financial statements for certain periods; and (5) as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
DEADLINE: October 30, 2023 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/napco-loss-submission-form/?id=48625&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of NSSC during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is October 30, 2023. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Phone: (646) 453-8903
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SOURCE The Gross Law Firm
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