Investors Launch Class Action Against AMMO, Inc. Over Alleged Securities Fraud

LOS ANGELES, Nov. 26, 2024 /PRNewswire/ — Glancy Prongay & Murray LLP (“GPM”) is informing investors with significant losses that they may have a chance to lead a class action lawsuit concerning securities fraud against AMMO, Inc. (“AMMO” or the “Company”) POWW.

Class Period: August 19, 2020 – September 24, 2024
Lead Plaintiff Deadline: November 29, 2024

To serve as the lead plaintiff in the AMMO lawsuit, interested parties can submit their contact information at www.glancylaw.com/cases/AMMO-Inc/. For more details on their rights, individuals may reach out to Charles H. Linehan of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected].

The complaint states that during the Class Period, Defendants failed to inform investors about significant issues: (1) the company lacked adequate internal controls over financial reporting; (2) there was a high chance that it did not accurately disclose all executive officers and potential related party transactions from 2020 to 2023; (3) the company may have mischaracterized certain fees for investor relations and legal services as reductions from capital raises instead of period expenses in fiscal years 2021 and 2022; (4) the valuation of unrestricted stock awards to officers and employees might have been incorrect from 2020 to 2022; and (5) due to these failures, Defendants’ positive claims regarding the company’s performance were misleading or lacked a reasonable basis.

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To participate in the class action, no immediate action is required; individuals can choose to retain their counsel or choose not to act and remain part of the class. For further information regarding this class action, or with any questions about your rights, please contact Charles Linehan, Esquire, of GPM, located at 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, or through email at [email protected]. If you reach out via email, include your mailing address, phone number, and the number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions according to applicable laws and ethical guidelines.

Contacts 
Glancy Prongay & Murray LLP, Los Angeles
Charles Linehan, 310-201-9150 or 888-773-9224
[email protected]
www.glancylaw.com

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SOURCE Glancy Prongay & Murray LLP