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Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until July 13, 2021 to file lead plaintiff applications in a securities class action lawsuit against Array Technologies, Inc. (NasdaqGS: ARRY).
Array and certain of its executives are charged with failing to disclose material information during the Class Period and/or in the Offering Materials issued in conjunction with the public offerings, violating federal securities laws. Specifically, the action alleges that the Company failed to disclose that increases in commodity and freight costs had been negatively impacting the Company’s business and operations.
On May 11, 2021, the Company disclosed that its first quarter 2021 results had missed profit analysts’ expectations and withdrew its full-year 2021 outlook, due to increases in steel and freight costs, leading analysts to cut their ratings on the Company.
On this news, shares of Array plummeted 46.1%, or $11.49 per share, to close at $13.46 per share on May 12, 2021.
If you purchased securities of Array and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com), or fill out the form on this page.
The case is Plymouth County Retirement Association v. Array Technologies, Inc., et al., 21-cv-2396.
Click here to read the case complaint.