NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Array Technologies, Inc. (NASDAQ: ARRY) on behalf of Array stockholders. Our investigation concerns whether Array has violated the federal securities laws and/or engaged in other unlawful business practices.
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The investigation focuses on whether Array's filings with the U.S. Securities and Exchange Commission in connection with its October 2020 IPO and subsequent investor communications contained materially false and misleading statements and/or failed to disclose material adverse facts. The company missed its first-quarter profit forecasts and lowered its full-year outlook, stating increases in freight and steel costs. Array's net income dropped from .61 cents per share a year ago to just .02 cents.
Following this news, Array stock dropped 46% on May 12, 2021.
If you purchased or otherwise acquired Array shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at firstname.lastname@example.org, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.