NEW YORK, Sept. 17, 2023 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of NAPCO Security Technologies, Inc. (NASDAQ: NSSC), AeroVironment, Inc. (NASDAQ: AVAV), and Discover Financial Services (NYSE: DFS). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
NAPCO Security Technologies, Inc. (NASDAQ: NSSC)
Class Period: November 7, 2022 – August 18, 2023
Lead Plaintiff Deadline: October 30, 2023
According to the lawsuit, throughout the Class Period, defendants 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 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.
For more information on the NAPCO class action go to: https://bespc.com/cases/NSSC
AeroVironment, Inc. (NASDAQ: AVAV)
Class Period: June 29, 2021 – December 7, 2021
Lead Plaintiff Deadline: October 30, 2023
The complaint alleges that on December 7, 2021, AeroVironment announced second quarter results below market estimates and reduced revenue guidance for the remainder of the fiscal year from a range of $560 million to $580 million to a range of $440 million to $460 million. AeroVironment also lowered its EBITDA guidance from $105 million to $110 million to $59 million to $65 million.
On this news, AeroVironment’s stock declined the following day by nearly 30% to close at $57.98/share causing significant losses to shareholders at the time.
For more information on the AeroVironment class action go to: https://bespc.com/cases/AVAV
Discover Financial Services (NYSE: DFS)
Class Period: February 21, 2019 – August 14, 2023
Lead Plaintiff Deadline: October 30, 2023
According to the complaint, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) DFS maintained deficient risk management and compliance procedures; (ii) as a result of the foregoing deficiencies, the Company had, inter alia, failed to comply with applicable student loan servicing standards, misclassified certain credit card accounts, overcharged customers, and failed to stem its ballooning credit card delinquency rate; (iii) the foregoing issues, when they became known, would subject DFS to significant financial exposure, regulatory scrutiny, and reputational harm; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
For more information on the DFS class action go to: https://bespc.com/cases/DFS
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
