Johnson Fistel, PLLP, a shareholder rights law firm, is alerting investors that a class action lawsuit has been filed on behalf of purchasers of securities in Red Cat Holdings, Inc. (NASDAQ: RCAT). Shareholders are encouraged to review the information below and take action before the relevant deadline.

The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Salt Lake City Facility’s production capacity, and Defendants’ progress in developing the same, was overstated; (ii) the overall value of the SRR Contract was overstated; and (iii) as a result, Defendants’ public statements were materially false and misleading at all relevant times.