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Lost Money on Napco Security Technologies, Inc. (NSSC)? Join Class Action Suit Seeking Recovery – Contact Levi & Korsinsky
NSSCNAPCO Security Technologies(NSSC) GlobeNewswire News Room·2025-05-16 17:12

Core Viewpoint - Napco Security Technologies, Inc. is facing a class action lawsuit due to alleged securities fraud that impacted investors between February 5, 2024, and February 3, 2025 [1] Group 1: Lawsuit Details - The lawsuit aims to recover losses for investors affected by misleading statements regarding Napco's growth and hardware division performance [2] - Defendants expressed confidence in achieving fiscal 2026 growth projections based on demand for hardware products, which was later contradicted by a significant decline in hardware sales reported on February 3, 2025 [2] - Following the announcement of reduced sales and a retraction of the long-term 45% EBITDA margin target, Napco's stock price plummeted from 36.70onJanuary31,2024,to36.70 on January 31, 2024, to 26.93 on February 3, 2025, marking a decline of approximately 26.62% in one day [2] Group 2: Next Steps for Investors - Investors who suffered losses during the specified timeframe have until June 24, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this role [3] - Class members may be entitled to compensation without incurring out-of-pocket costs or fees [3] Group 3: Firm Background - Levi & Korsinsky has a strong track record in securities litigation, having secured hundreds of millions for shareholders over the past 20 years [4] - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as a leading securities litigation firm in the United States [4]