IRNT - Grabar Law Office Investigates Claims on Behalf of Shareholders of IronNet Inc. (IRNT)

Philadelphia, Pennsylvania--(Newsfile Corp. - August 11, 2023) - A federal court has allowed a securities fraud class action to proceed in which it is alleged that certain of IronNet's (OTC: IRNT) officers made materially false and misleading statements to the public.

The gravamen of underlying securities fraud complaint is that Defendants knew, but concealed, that the FY22 revenue and ARR forecasts they provided in September 2021 were "materially based" on "large and unprecedented multi-million dollar public sector deals" that had "no realistic chance of closing in FY22" because they "were subject to a massive federal defense budget (the . . . []NDAA[]) that typically only passes in December" of each year.

IronNet shareholders who have held IronNet stock since on or before September 14, 2021, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award at no cost to them whatsoever.

If you would like to learn more about this matter, you are encouraged to contact us at jgrabar@grabarlaw.com, visit https://grabarlaw.com/the-latest/ironnet-shareholder-investigation/, or call 267-507-6085.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/176979