NEW YORK, NY / ACCESSWIRE / August 22, 2023 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of NAPCO Security Technologies, Inc. ("NAPCO" or "the Company") (NASDAQ:NSSC). Investors who purchased NAPCO securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/nssc.
The investigation concerns whether NAPCO has violated federal securities laws.
Investigation Details:
We are investigating NAPCO Security Technologies, Inc. (NSSC) ("NAPCO" or the "Company") for potential violations of the federal securities laws. 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 $17.30 per share, or 45.04%, to close at $21.22 per share on August 21, 2023.
What's Next?
If you are aware of any facts relating to this investigation or purchasedNAPCO securities, you can assist this investigation by visiting the firm's site: www.bgandg.com/nssc. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.
Why Bronstein, Gewirtz & Grossman:
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
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Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
332-239-2660 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
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