PR Newswire
NEW YORK, July 17, 2023
NEW YORK, July 17, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Byrna Technologies Inc. ("Byrna" or the "Company") (NASDAQ: BYRN). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Byrna and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On July 11, 2023, Byrna issued a press release announcing selected financial results for its fiscal second quarter ended May 31, 2023. Among other items, Byrna reported GAAP earnings per share ("EPS") of -$0.05, wider than estimates of $-0.02, as well as revenue of $11.5 million, representing a 0.9% decrease from the prior year and missing expectations by $0.5 million. Byrna advised investors that "[i]n late March, Meta and Google simultaneously implemented a ban on any advertising by Byrna on their platforms, classifying Byrna as a 'contraband' product," which affected the Company's direct-to-consumer sales.
On this news, Byrna's stock price fell $1.16 per share, or 22.22%, to close at $4.06 per share on July 11, 2023
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP
