Johnson Fistel Announces it has Initiated a Class Action Investigation into Mynaric
Shareholder rights law firm Johnson Fistel, LLP is investigating whether Mynaric AG (NASDAQ: MYNA) or any of its executive officers or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. The investigation focuses on investors’ losses and whether they may be recovered under federal securities laws.
What if I purchased Mynaric securities? If you purchased securities and suffered losses on your investment, join our investigation now:
Or for more information, contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471.
There is no cost or obligation to you.
What is Johnson Fistel investigating? On August 20, 2024, Mynaric AG revised its 2024 financial guidance, attributing the adjustments to production challenges. Specifically, the IFRS-15 revenue forecast was slashed to EUR 16.0-24.0 million from a previous estimate of EUR 50.0-70.0 million, while the expected operating loss was increased to EUR 55.0-50.0 million from EUR 40.0-30.0 million. Production delays, lower yields, and component shortages were cited as primary reasons for the more cautious outlook. With only EUR 6.3 million in cash as of August 16, 2024, the company is actively seeking additional capital to ensure ongoing operations and ramp up production. Moreover, the company announced the voluntary departure of CFO Stefan Berndt.
What if I have relevant nonpublic information? Individuals with nonpublic information regarding the company should consider whether to assist our investigation or take advantage of the SEC Whistleblower program. Under the SEC program, whistleblowers who provide original information may, under certain circumstances, receive rewards totaling up to thirty percent of any successful recovery made by the SEC. For more information, contact Jim Baker at (619) 814-4471 or jimb@johnsonfistel.com.