NEW YORK, May 20, 2021 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, is investigating claims of violations of federal securities laws on behalf of investors of Array Technologies, Inc. (“Array” or the “Company”) (NASDAQ: ARRY). If you are a shareholder of Array with more than $200,000 in losses, you should contact the Firm.
On May 11, 2021, the Company published their first quarter 2021 results. Here, the market learned that Array had missed profit analysts’ expectations and that the Company withdrew its full-year 2021 outlook. Array attributed the negative results to increases in steel and freight costs. The Complaint alleges that the Company and its executives and directors failed to inform the market that these costs had been negatively impacting Array’s business and operations since before the IPO.
On this news, shares of Array fell by 46.1%, to close at $13.46 on May 12, 2021, thereby injuring investors.
If you are a shareholder of Array who purchased Array securities between at either the IPO on October 14, 2020 for $22.00 per share, or Secondary Offering on March 18, 2020 for $28.00 per share, you have until July 13, 2021, to ask the Court to appoint you as Lead Plaintiff for the class. To participate, learn more, or discuss the issues surrounding the investigation, please contact our attorneys at (914) 733-7256 or via email at investigations@lowey.com.
Whistleblowers: Persons with non-public information regarding Array should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.
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Lowey Dannenberg P.C.
44 South Broadway, Suite 1100
White Plains, NY 10601
Tel: (914) 733-7256
Email: investigations@lowey.com