NEW YORK, NY / ACCESSWIRE / November 26, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Laser Photonics Corp. ("Laser Photonics" or the "Company") (NASDAQ:LASE). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Laser Photonics and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On March 29, 2023, Laser Photonics issued a press release "announc[ing] it will postpone reporting its fourth quarter and full-year 2022 ended December 31, 2022 and is canceling it webcast and conference call to discuss results that was scheduled to take place on March 30, 2023." The Company stated that it "intends to notify investors via press release when it is able to determine a date to report its fourth quarter and full-year 2022 numbers and reschedule its conference call to discuss these results."
On this news, Laser Photonics' stock price fell $1.40 per share, or 22.84%, to close at $4.73 per share on March 30, 2023.
Then, on October 1, 2024, Capybara Research ("Capybara") published a report alleging that Laser Photonics has been part of a long-running fraud orchestrated by its founder and controlling shareholder, Dmitri Nikitin. The Capybara report accuses the Company of hiding critical financial information from investors and engaging in deceptive business practices.
On this news, Laser Photonics' stock price fell $7.13 per share, or 43.72%, over the following three trading sessions, to close at $9.18 per share on October 3, 2024.
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SOURCE: Pomerantz LLP