NEW
YORK, Sept. 26, 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:
https://securitiesclasslaw.com/securities/napco-loss-submission-form/?id=49235&from=4
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=49235&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.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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SOURCE The Gross Law Firm