Core Viewpoint - A class action has been filed against Mynaric AG for allegedly misleading investors about its business prospects, particularly regarding production delays and financial guidance for FY 2024 [1][2]. Group 1: Allegations and Financial Impact - The complaint states that Mynaric failed to disclose production delays caused by lower-than-expected production yields and component supplier shortages, which negatively impacted revenue growth and could lead to an operating loss [2]. - Mynaric revised its FY 2024 revenue guidance down to a range of EUR 16.0 million to EUR 24.0 million from a previous range of EUR 50.0 million to EUR 70.0 million, citing production delays [3]. - The company also adjusted its operating loss expectations for FY 2024 to a range of EUR 55.0 million to EUR 50.0 million, compared to the prior guidance of a loss between EUR 40.0 million and EUR 30.0 million [3]. Group 2: Market Reaction - Following the announcement of the revised guidance, Mynaric's American Depository Share (ADS) price fell by $2.32, or 55.9%, closing at $1.83 per ADS on August 20, 2024 [4]. Group 3: Legal Proceedings - Shareholders interested in participating in the class action must submit their application to the court by December 30, 2024, to serve as lead plaintiff [5]. - Robbins LLP, the law firm handling the case, emphasizes that representation is on a contingency fee basis, meaning shareholders pay no fees or expenses [6].

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Mynaric AG due to significant losses suffered by investors, particularly related to misleading statements and production issues affecting the company's financial performance [2][4]. Group 1: Legal Investigation and Claims - Faruqi & Faruqi is encouraging investors who incurred losses exceeding $50,000 in Mynaric between June 20, 2024, and October 7, 2024, to discuss their legal options [1]. - The firm has set a deadline of December 30, 2024, for investors to seek the role of lead plaintiff in a federal securities class action against Mynaric [2]. Group 2: Allegations Against Mynaric - The complaint alleges that Mynaric and its executives violated federal securities laws by making false or misleading statements regarding production yields and component shortages, which led to production delays for the CONDOR Mk3 product [4]. - It is claimed that these issues would materially negatively impact the company's revenue growth and result in an operating loss, contradicting previously issued financial guidance for FY 2024 [4]. Group 3: Financial Performance and Stock Impact - On August 20, 2024, Mynaric revised its FY 2024 revenue guidance to a range of EUR 16.0 million to EUR 24.0 million, down from EUR 50.0 million to EUR 70.0 million, due to production delays [5]. - The company also projected an operating loss for FY 2024 between EUR 55.0 million to EUR 50.0 million, compared to a previous estimate of a loss between EUR 40.0 million to EUR 30.0 million [5]. - Following these announcements, Mynaric's ADS price fell by 55.9% to close at $1.83 on August 20, 2024 [5]. - Subsequent management changes and a deficiency letter from Nasdaq regarding compliance with listing criteria further impacted the stock price, which fell to $1.02 on August 27, 2024, and $1.53 on October 8, 2024 [6][8][9].

Lawsuit Overview - Investors with substantial losses have the opportunity to lead a securities fraud class action lawsuit against Mynaric AG (NASDAQ: MYNA) [1] - The class period for the lawsuit is from June 20, 2024, to October 7, 2024 [1] - The lead plaintiff deadline is December 30, 2024 [1] Allegations Against Mynaric AG - Defendants failed to disclose lower-than-expected production yields and component supplier shortages, causing production delays for Mynaric's CONDOR Mk3 product [2] - These issues were likely to have a material negative impact on the Company's revenue growth and cause an operating loss [2] - Mynaric was unlikely to meet its previously issued financial guidance for FY 2024 [2] - The Company's business and financial prospects were overstated [2] - Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis [2] Class Action Participation - Investors do not need to take any action to be a member of the class action [3] - Investors may retain counsel of their choice or remain an absent member of the class action [3] - Contact information for the Law Offices of Howard G Smith is provided for those interested in learning more about the class action [3]

Core Viewpoint - A class action has been filed against Mynaric AG due to allegations of misleading investors regarding its business prospects, particularly concerning production delays and financial guidance for FY 2024 [1][2]. Group 1: Allegations and Financial Impact - The complaint alleges that Mynaric failed to disclose production delays caused by lower-than-expected production yields and component supplier shortages, which negatively impacted revenue growth and led to an operating loss [2]. - Mynaric revised its FY 2024 revenue guidance from a range of EUR 50.0 million to EUR 70.0 million down to EUR 16.0 million to EUR 24.0 million, and its operating loss guidance from a range of EUR 30.0 million to EUR 40.0 million up to a loss of EUR 50.0 million to EUR 55.0 million [3]. - Following the announcement of these issues, Mynaric's American Depository Share price fell by $2.32, or 55.9%, closing at $1.83 on August 20, 2024 [4]. Group 2: Legal Proceedings - Shareholders who wish to serve as lead plaintiffs in the class action must submit their applications by December 30, 2024, although participation is not required to be eligible for recovery [5]. - Robbins LLP, the law firm handling the case, operates on a contingency fee basis, meaning shareholders incur no fees or expenses [6].

Core Viewpoint - Mynaric AG is facing significant operational challenges leading to a substantial downward revision of its financial guidance for 2024, resulting in a class action lawsuit from investors who suffered losses during the specified period [3][6]. Financial Performance - Mynaric now expects full-year 2024 IFRS-15 revenue to be between EUR 16.0 million and EUR 24.0 million, a drastic reduction from the previous guidance of EUR 50.0 million to EUR 70.0 million [3]. - The company anticipates an operating loss for 2024 in the range of EUR 55.0 million to EUR 50.0 million, compared to earlier expectations of a loss between EUR 40.0 million and EUR 30.0 million [3]. Stock Price Impact - Following the revenue guidance cut on August 20, 2024, Mynaric's stock price plummeted by $2.32, or 55.9%, closing at $1.83 per share [3]. - After the announcement of the termination of the CEO on August 26, 2024, the stock fell by $0.11, or 9.7%, to close at $1.02 per share [4]. - On October 8, 2024, the company disclosed a deficiency letter from Nasdaq regarding non-compliance with listing criteria, leading to a further decline in stock price by $0.07, or 4.4%, to close at $1.53 per share [5]. Management Changes - Mynaric's Chief Financial Officer voluntarily departed for personal reasons, which may have contributed to investor concerns [3]. - The Supervisory Board agreed to terminate the CEO's appointment, indicating potential instability in leadership [4]. Legal Proceedings - A class action lawsuit has been filed on behalf of investors who acquired Mynaric securities between June 20, 2024, and October 7, 2024, with a deadline of December 30, 2024, to file a lead plaintiff motion [1][8]. - The complaint alleges that the company made materially false and misleading statements regarding its business operations and financial prospects, failing to disclose critical issues affecting production and revenue [6].

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Mynaric AG due to significant losses suffered by investors, particularly related to misleading statements and production issues affecting the company's financial performance [1][3]. Group 1: Legal Investigation and Claims - Faruqi & Faruqi is encouraging investors who incurred losses exceeding $50,000 in Mynaric between June 20, 2024, and October 7, 2024, to discuss their legal options [1]. - A federal securities class action has been filed against Mynaric, with a deadline of December 30, 2024, for investors to seek the role of lead plaintiff [1][9]. Group 2: Financial Performance Issues - Mynaric's executives are alleged to have violated federal securities laws by making false or misleading statements regarding production yields and component shortages, which led to production delays for the CONDOR Mk3 product [3]. - The company revised its FY 2024 revenue guidance from a range of EUR 50.0 million to EUR 70.0 million down to EUR 16.0 million to EUR 24.0 million, citing production delays and component shortages [4]. - Mynaric also adjusted its expected operating loss for FY 2024 from a range of EUR 30.0 million to EUR 40.0 million to a loss of EUR 50.0 million to EUR 55.0 million due to lower revenue and higher production costs [4]. Group 3: Management Changes and Stock Performance - Following the announcement of production issues, Mynaric's ADS price fell by $2.32, or 55.9%, closing at $1.83 on August 20, 2024 [5]. - The company announced the voluntary departure of its CFO, which contributed to a further decline in ADS price by $0.11, or 9.73%, closing at $1.02 on August 27, 2024 [6][7]. - Mynaric received a deficiency letter from Nasdaq regarding non-compliance with listing criteria, leading to a drop in ADS price by $0.07, or 4.37%, to close at $1.53 on October 8, 2024 [8].

Core Viewpoint - A class action lawsuit has been filed against Mynaric AG for alleged violations of securities laws, claiming the company made false and misleading statements regarding its production capabilities and financial performance [1][4]. Group 1: Lawsuit Details - The lawsuit is based on violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 [1]. - Investors who purchased Mynaric's securities between June 20, 2024, and October 7, 2024, are encouraged to participate in the lawsuit [2]. - The class has not yet been certified, meaning potential participants are not currently represented by an attorney [3]. Group 2: Allegations Against Mynaric - The complaint alleges that Mynaric's production delays were due to low production yields and component shortages affecting its CONDOR Mk3 product [4]. - It is claimed that these production issues are likely to negatively impact the company's revenue growth and overall financial performance [4]. - The lawsuit asserts that Mynaric's public statements were materially misleading, leading to investor damages when the truth was revealed [4].

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Mynaric To Contact Him Directly To Discuss Their OptionsIf you suffered losses exceeding $50,000 in Mynaric between June 20, 2024 and October 7, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).[You may also click here for additional information]NEW YORK, Nov. 8, 2024 /PRNewswire/ -- ...

Core Viewpoint - A class action lawsuit has been filed against Mynaric AG for allegedly making materially false and misleading statements regarding its business operations and financial prospects during the specified class period [1][3]. Group 1: Lawsuit Details - The lawsuit was filed in the United States District Court for the Eastern District of New York on behalf of all individuals and entities who purchased Mynaric securities between June 20, 2024, and October 7, 2024 [1]. - Investors have until December 30, 2024, to apply to the Court to be appointed as lead plaintiff in the lawsuit [1]. Group 2: Allegations Against Mynaric - The Complaint alleges that Mynaric's management made false and misleading statements about the company's business and operations [3]. - Specific issues cited include lower-than-expected production yields and component supplier shortages causing delays in the production of Mynaric's CONDOR Mk3 product [3]. - These production issues are expected to negatively impact the company's revenue growth and lead to an operating loss, making it unlikely for Mynaric to meet its previously issued financial guidance for FY 2024 [3]. - As a result, the company's business and financial prospects were overstated, rendering its public statements materially false and misleading [3].

SAN DIEGO, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Mynaric AG (NASDAQ: MYNA) securities between June 20, 2024 and October 7, 2024. Mynaric develops and manufactures laser communication products for aerospace-based communication networks for government and commercial markets in the U.S. and internationally. For more information, submit a form, email attorney Aaron Dumas, ...