NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against NAPCO Security Technologies, Inc. (“NAPCO” or the “Company”) (NASDAQ: NSSC) on behalf of NAPCO stockholders. Our investigation concerns whether NAPCO has violated the federal securities laws and/or engaged in other unlawful business practices.
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On August 18, 2023, after market hours, NAPCO issued a press release entitled “NAPCO Reports Preliminary Fourth Quarter Fiscal 2023 Net Sales and Net Income, Restatement of Prior Three Quarters and Declaration of Increased Dividend”. The press release stated, among other things, that “the Company’s previously issued unaudited interim financial statements for the fiscal quarters ended September 30, 2022, December 31, 2022 and March 31, 2023, respectively, included in the Company’s quarterly report on Form 10-Q for such respective quarters, should no longer be relied upon.” The press release further stated that “the Company identified certain errors related to the Company’s calculation of cost of goods sold (‘COGS’) and inventory for each of the first three quarters of fiscal 2023.”
On this news, NAPCO’s stock price fell sharply in after hours trading on August 18, 2023.
If you purchased or otherwise acquired NAPCO 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 or Marion Passmore by email at email@example.com, by 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 and California. 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.