BOSTON, April 24, 2023 (GLOBE NEWSWIRE) -- Block & Leviton is investigating Presto Automation, Inc. (NASDAQ: PRST) for potential securities law violations. Investors who have lost money in their Presto Automation, Inc. investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/prst.
What is this all about?
On April 24, 2023, small cap stock research firm, White Diamond Research issued a one-page news brief on Presto Automation, Inc. with the headline: “BREAKING NEWS – PRESTO AUTOMATION REMOVED THE MCDONALD’S LOGO FROM THE CUSTOMER SECTION OF ITS WEBSITE OVER THE WEEKEND!”
The report alleges that there have been rumors of Presto Automation having a deal with McDonalds and that the Company’s website included the McDonalds logo under a section of select customers as recently as Friday April 21, 2023, before removing the logo over the ensuing weekend. White Diamond states, “We believe the logo got removed because the reality is McDonald’s isn’t a customer of PRST in any way, and now that attention is on PRST, they don’t want to get sued by investors for false information, or even sued by McDonalds!”
Shares of Presto Automation stock dropped more than 25% in intraday trading on April 24, 2023.
Who is eligible?
Anyone who purchased Presto Automation, Inc. stock and has lost money may be eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.
What is Block & Leviton doing?
Block & Leviton is investigating whether the Company committed securities law violations and may file an action to attempt to recover losses on behalf of investors who have lost money.
What should you do next?
If you've lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at cases@blockleviton.com, or by phone at (617) 398-5600.
Why should you contact Block & Leviton?
Many law firms have issued releases about this matter; most of those firms do not actually litigate securities class actions. Block & Leviton is a law firm that actually litigates cases. We are dedicated to obtaining significant recoveries on behalf of defrauded investors through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email cases@blockleviton.com with any questions.
This notice may constitute attorney advertising.
CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: cases@blockleviton.com
SOURCE: Block & Leviton LLP
www.blockleviton.com
