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), if they purchased the Company’s securities between October 14, 2020 and May 11, 2021, inclusive (the “Class Period”) and/or pursuant to the Company’s October 2020 initial public offering, December 2020 secondary public offering, or March 2021 secondary public offering. This action is pending in the United States District Court for the Southern District of New York.
What You May Do
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 (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nasdaqgs-arry/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by July 13, 2021.
About the Lawsuit
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.
The case is Plymouth County Retirement Association v. Array Technologies, Inc., et al., 21-cv-2396.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
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Lewis Kahn, Managing Partner