NAPCO Security Technologies(US:NSSC) GlobeNewswire News Room·2025-05-01 16:47Core Viewpoint - The Gross Law Firm is notifying shareholders of Napco Security Technologies, Inc. about a potential class action lawsuit due to significant declines in the company's stock price following disappointing financial results and revised growth projections [1][3]. Summary by Sections Class Action Notice - Shareholders who purchased shares of Napco Security Technologies (NASDAQ: NSSC) during the specified class period (February 5, 2024, to February 3, 2025) are encouraged to contact the Gross Law Firm for possible lead plaintiff appointment [1][3]. Allegations - The complaint alleges that the defendants provided misleading information regarding Napco's expected growth and strength in its hardware division. They expressed confidence in achieving fiscal 2026 growth projections based on demand for hardware products [3]. - On February 3, 2025, Napco reported a significant decline in hardware sales, primarily due to reduced sales from two major distributors. Consequently, the company retracted its long-term 45% EBITDA margin target, stating uncertainty about achieving it by the end of fiscal 2026 [3]. - Following this announcement, Napco's stock price plummeted from $36.70 per share on January 31, 2024, to $26.93 per share on February 3, 2025, marking a decline of approximately 26.62% in one day [3]. Next Steps for Shareholders - Shareholders are advised to register for the class action by June 24, 2025, to participate in the case without any cost or obligation. Registered shareholders will receive updates through a portfolio monitoring software [4]. Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit, fraud, and illegal business practices. The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [5].