Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Array Technologies, Inc. (NASDAQ: ARRY) on behalf of long-term stockholders following a class action complaint that was filed against Array on May 14, 2021. Our investigation concerns whether the board of directors of Array have breached their fiduciary duties to the company.
The complaint alleges that, during the Class Period, defendants made materially false and misleading statements regarding the Company’s business. Specifically, defendants’ public offering materials failed to adequately disclose the then-existing rise of costs related to certain supplies such as steel, as well as the Company’s freight costs and that these were likely to have, and were having, an adverse effect on the Company’s business and operations. The complaint also alleges that defendants made materially false and/or misleading statements in press releases and conference calls because defendants omitted and otherwise failed to disclose that dating back to Q1 2020, prices of certain commodities such as steel were increasing dramatically, and that Array was facing increasing freight costs, and as a result of the foregoing, the Company’s positive statements about its business and operations lacked a reasonable basis.
If you are a long-term stockholder of Array, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Alexandra B. Raymond by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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