Key Deadline Ahead
On a date earmarked for investors’ calendars – November 29, 2024 – a drumroll echoes. The Law Offices of Howard G. Smith graciously raise a firm, yet gentle reminder. With the sun setting over the legal horizon, a lead plaintiff motion in the case concerning AMMO, Inc. looms. The Company, affectionately referred to as “AMMO,” sent ripples across the market with its securities between August 19, 2020, and September 24, 2024.
The Unveiling
September 24, 2024, a date etched now in the annals of AMMO’s history, after closing of the market, a protagonist exited the stage – the Chief Financial Officer – at the Board’s whisper. News of an independent investigation into the Company’s “internal control over financial reporting” for fiscal years 2020 through 2023 left the crowd murmuring. The script alluded to a law firm taking center stage to probe whether the Company danced a truthful tango. Did AMMO and its management control persons sincerely narrate the tale? Did they fumble in disclosing executive officers, metamorphosed transactions, and the value of unfettered stock awards?
The Aftermath
With the dawn of September 25, 2024, verdant markets saw a tremor. AMMO’s share price plunged $0.08, akin to a bumpy ride down a steep rollercoaster, closing at $1.44 per share on a day of frantic trades.
Lifting the Curtain
The complaint unfurled in this theater of shadows alleges a flawed showmanship. Throughout the Class Period, protagonists allegedly peddled deceptive tales of yonder years. They hid a truth deeper than a well – a truth about the Company’s inner machinations, operations, and dreams of tomorrow. The scriptwriters failed to pen the follies: inadequate controls, murky disclosures, a tapestry weaved with financial legerdemain, and a valuation quagmire, all portrayed under the shimmering facade of positivity.
Legal Counsel Beckons
Would-be protagonists who held shares in the Company’s production during the class performance may, till November 29, 2024, audition to lead the troupe. To enter stage left, legal requirements act as gatekeepers. For now, the curtains are drawn, but in the shadows, a choice looms. Will the audience join the class action ensemble without a whisper or rise to the limelight? If intrigue tugs at your sleeve or questions itch your soul, do reach out to Howard G. Smith, Esquire, for guidance in this dramatic saga.
This script, a press release perhaps, talks of legal horizons, of a stage lit with truth, and of rules that guide the legal opera.