BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Array Technologies, Inc. (“Array” or the “Company”) (NASDAQ: ARRY) investors concerning the Company’s possible violations of federal securities laws.
In October 2020, Array completed its initial public offering (“IPO”), selling 7 million shares at $22 per share.
On May 11, 2021, after the close of trading, Array announced first quarter 2021 results, reporting lower revenues year-over-year and lower margins as a result of increased steel and shipping costs. The Company also announced that Peter Jonna had resigned from the Board of Directors effective May 10, 2021.
On this news, Array’s stock price fell $11.49 per share, or 46%, to close at $13.46 per share on May 12, 2021, significantly below the IPO price.
If you purchased Array common stock, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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