SHAREHOLDER ALERT: The Law Offices of Vincent Wong Remind NAPCO Investors of a Lead Plaintiff Deadline of October 30, 2023
News provided byThe Law Offices of Vincent Wong
Sep 19, 2023, 1:04 PM ET
NEW YORK, Sept. 19, 2023 (GLOBE NEWSWIRE) -- Attention NAPCO Security Technologies, Inc. ("NAPCO") (NASDAQ: NSSC) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors who purchased between November 7, 2022 and August 18, 2023.
If you suffered a loss on your investment in NAPCO, contact us about potential recovery by using the link below. There is no cost or obligation to you.
ABOUT THE ACTION: The class action against NAPCO includes allegations that the Company made 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
Aggrieved NAPCO investors only have until October 30, 2023 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
Vincent Wong, Esq.
39 East Broadway
New York, NY 10002
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