NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until November 23, 2021 to file lead plaintiff applications in a securities class action lawsuit against AppHarvest, Inc. (NasdaqGS: APPH), if they purchased the Company’s securities between May 17, 2021 and August 10, 2021, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased securities of AppHarvest and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nasdaqgs-apph/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by November 23, 2021.
About the Lawsuit
AppHarvest and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On August 11, 2021, the Company announced its 2Q 2021 financial results, disclosing a $32.0 million net loss and lowered its full year sales guidance to $7M to $9M, from a prior range of $20M to $25M, due to “operational headwinds with the ramp up to full production at the company’s first CEA facility, including labor and productivity challenges related to the training and development of the new workforce and historically low market prices for tomatoes.”
On this news, the Company’s stock price plummeted approximately 29%, damaging investors.
The case is Ragan v. AppHarvest, Inc., No. 21-cv-07985.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.