Mynaric AG Investor Alert: Class Action Lawsuit Filed

NEW YORK, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC, a well-known law firm, has announced that a class action lawsuit has been initiated against Mynaric AG ("Mynaric" or "the Company") MYNA along with several of its officers.

Who Can Join?

This lawsuit aims to reclaim damages from the defendants for alleged breaches of federal securities laws. It represents all individuals and entities that bought or acquired Mynaric securities from June 20, 2024, to October 7, 2024 (the "Class Period"). Investors affected by these events are encouraged to participate in the case by visiting the law firm’s website.

Details of the Case

The lawsuit's complaint asserts that, throughout the Class Period, the defendants made significantly misleading statements about the Company's operations, business performance, and future prospects. Specifically, it rings forth serious allegations stating that: (1) there were production delays for Mynaric's CONDOR Mk3 product caused by lower-than-expected production yields and supplier shortages; (2) these production challenges would adversely impact the Company's revenue growth and likely lead to operational losses; (3) Mynaric would probably not meet its prior financial expectations for FY 2024 as a result; (4) the Company’s outlined business and financial future were grossly exaggerated; and (5) thus, all public statements from the Company during this period were profoundly misleading.

Next Steps for Investors

A class action lawsuit has already commenced. Investors who wish to review the complaint or participate in the lawsuit can visit the law firm’s site or contact them directly. Those who have suffered financial losses due to Mynaric's performance have until December 30, 2024, to request the Court to appoint them as lead plaintiff, although it is not required to recover any funds.

No Financial Risk for Participating Investors

Representation in this class action comes at no upfront cost to investors as the firm operates on a contingency fee basis. This means that, should they succeed, the firm will seek reimbursement for expenses and legal fees only from the awarded recovery.

About Bronstein, Gewirtz & Grossman, LLC

Bronstein, Gewirtz & Grossman, LLC is a respected law firm specialized in securities fraud class actions and shareholder derivative suits. The firm has an extensive track record of recovering significant amounts for investors across the country.

Attorney Advertising. Previous results do not guarantee a similar outcome.

Contact Information

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | [email protected]

lawsuit, Mynaric, investors