NAPCO Security Technologies(US:NSSC) Prnewswireยท2025-06-23 13:00Core Viewpoint - The Gross Law Firm is notifying 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][2]. Summary by Relevant Sections Allegations - 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 based on expected demand for hardware products [1]. - On February 3, 2025, Napco reported a significant decline in hardware sales, attributing this to reduced sales from two major distributors, which led to a retraction of their long-term 45% EBITDA margin target [1]. Stock Performance - Following the announcement of disappointing financial results, 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 just one day [1]. Class Action Details - Shareholders who purchased shares during the specified class period (February 5, 2024, to February 3, 2025) are encouraged to register for the class action, with a deadline for lead plaintiff applications set for June 24, 2025 [2]. - Registered shareholders will receive updates through a portfolio monitoring software throughout the case lifecycle, with no cost or obligation to participate [2]. Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud, aiming to hold companies accountable for misleading statements that inflate stock prices [3].