NAPCO Security Technologies(US:NSSC) GlobeNewswire News Room·2025-05-02 17:50Core Viewpoint - Napco Security Technologies, Inc. is facing a class action lawsuit due to alleged securities fraud that negatively impacted investors between February 5, 2024, and February 3, 2025 [1][2] Company Performance - The lawsuit claims that the defendants misled investors regarding Napco's expected growth and strength in its hardware division, asserting confidence in achieving fiscal 2026 growth projections [2] - On February 3, 2025, Napco reported a significant decline in hardware sales, attributing the drop primarily to reduced sales from two major distributors [2] - Following the disappointing financial results, Napco retracted its long-term EBITDA margin target of 45%, stating uncertainty about achieving this goal by the end of fiscal 2026 [2] Stock Market Impact - Napco's stock price experienced a dramatic decline from $36.70 per share on January 31, 2024, to $26.93 per share on February 3, 2025, marking a decrease of approximately 26.62% in just one day [2] Legal Proceedings - Investors who suffered losses during the specified timeframe have until June 24, 2025, to request appointment as lead plaintiff in the class action [3] - Participation in the lawsuit does not require any out-of-pocket costs or fees for class members [3] Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [4] - The firm has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4]