Federman & Sherwood announces that on May 14, 2021, a class action lawsuit was filed in the United States District Court for the Southern District of New York against Array Technologies, Inc. (NASDAQ: ARRY). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, Rule 10b-5, and Sections 11, 12(a)(2), and 15 of the Securities Act of 1933, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is October 14, 2020 through May 11, 2021. Specifically, the complaint alleges that Array made misleading and false statements in its IPO Materials issued on December 2020 and March 2021 while failing to disclose the rising cost of materials needed to manufacture its products, which negatively impacted the Company’s profit expectations.
To learn how to participate in this action, please visit https://www.federmanlaw.com/blog/federman-sherwoo…technologies-inc/
The lawsuit seeks to recover damages on behalf of all Array Technologies, Inc. investors who purchased common stock during the Class. You may move the Court no later than Monday, July 12, 2021 to serve as a lead plaintiff for the entire Class.
If you wish to discuss this action, obtain further information and participate in this litigation, or should you have any questions regarding this notice or preservation of your rights, please contact: Priscilla Scoggins at pms@federmanlaw.com or visit the firm’s website at www.federmanlaw.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210518006094/en/
Contacts
Priscilla Scoggins
pms@federmanlaw.com
