Levi & Korsinsky, LLP announces that an ARRY class action lawsuit has been filed on behalf of investors who purchased Array Technologies, Inc. (ARRY) securities between October 14, 2020, and May 11, 2021, For more on the ARRY Lawsuit please contact us today.
According to the Array Tech lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: Defendants repeatedly and consistently painted a materially misleading picture of the Company’s business and prospects that did not reflect rising steel and freight costs. After the October 2020 initial public offering, the December 2020 offering and the March 2021 offering, and subsequent to the class period, Array disclosed that it was experiencing increases in steel prices and substantial increases in the cost of both ocean and truck freight that in turn were having a material impact on its margins for the foreseeable future. This caused Array to miss profit expectations and withdraw its full-year outlook. As a result of Defendants’ wrongful acts and omissions and the precipitous decline in the market value of the Company’s securities, shareholders have suffered significant losses and damages.
If you suffered a loss in Array Tech you have until July 13, 2021, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171