SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Mynaric

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].