NEW YORK, NY / ACCESSWIRE / September 24, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Napco Security Technologies, Inc. ("Napco" or the "Company") (NASDAQ:NSSC). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Napco and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On September 5, 2024, Fuzzy Panda Research ("Fuzzy Panda") published a report entitled "Napco Security Technologies (NSSC) - Former Employees Allege Accounting Fraud + Lapping One-Time Sales Boosts". The Fuzzy Panda report alleged, among other things, that Napco was engaged in accounting fraud, that its board was subject to conflicts of interest, and that the Company was experiencing declining recurring revenues.
On this news, Napco's stock price fell $8.89 per share, or 20.49%, to close at $34.50 per share on September 5, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP