NAPCO Security Technologies(NSSC) Prnewswire·2025-06-05 09:45Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Napco Security Technologies, Inc. regarding a class action lawsuit due to alleged misleading statements about the company's growth and hardware sales performance [1]. Group 1: Allegations and Financial Impact - The complaint alleges that Napco's management provided investors with optimistic projections about the company's growth and strength in its hardware division, claiming confidence in achieving fiscal 2026 growth targets [1]. - On February 3, 2025, Napco reported a significant decline in hardware sales, attributing the drop primarily to reduced sales from two major distributors [1]. - 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 [1]. - Napco's stock price fell dramatically from 26.93 per share on February 3, 2025, marking a decline of approximately 26.62% in just one day [1]. Group 2: Class Action Details - Shareholders who purchased shares of NSSC during the specified class period (February 5, 2024, to February 3, 2025) are encouraged to register for the class action lawsuit [2]. - The deadline for shareholders to seek lead plaintiff status is June 24, 2025, and there is no cost or obligation to participate in the case [2]. - Registered shareholders will be enrolled in a portfolio monitoring system to receive updates throughout the case lifecycle [2]. Group 3: 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 [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements or omissions of material information [3].