PR Newswire
NEW YORK, Oct. 17, 2024
NEW YORK, Oct. 17, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Laser Photonics Corp. ("Laser Photonics" or the "Company") (NASDAQ: LASE). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Laser Photonics and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On March 29, 2023, Laser Photonics issued a press release "announc[ing] it will postpone reporting its fourth quarter and full-year 2022 ended December 31, 2022 and is canceling it webcast and conference call to discuss results that was scheduled to take place on March 30, 2023." The Company stated that it "intends to notify investors via press release when it is able to determine a date to report its fourth quarter and full-year 2022 numbers and reschedule its conference call to discuss these results."
On this news, Laser Photonics' stock price fell $1.40 per share, or 22.84%, to close at $4.73 per share on March 30, 2023.
Then, on October 1, 2024, Capybara Research ("Capybara") published a report alleging that Laser Photonics has been part of a long-running fraud orchestrated by its founder and controlling shareholder, Dmitri Nikitin. The Capybara report accuses the Company of hiding critical financial information from investors and engaging in deceptive business practices.
On this news, Laser Photonics' stock price fell $7.13 per share, or 43.72%, over the following three trading sessions, to close at $9.18 per share on October 3, 2024.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, London, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
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SOURCE Pomerantz LLP
