Mynaric AG Faces Class Action Lawsuit Over Securities Fraud Allegations

LOS ANGELES, Dec. 26, 2024 /PRNewswire/ — Glancy Prongay & Murray LLP (“GPM”) has announced that investors who have experienced significant losses have the chance to take the lead in a class action lawsuit against Mynaric AG (“Mynaric” or the “Company”) MYNA regarding alleged securities fraud.

Key Details of the Class Action

Class Period: June 20, 2024 – October 7, 2024

Lead Plaintiff Deadline: December 30, 2024

How to Participate

Investors wishing to serve as lead plaintiff in the Mynaric lawsuit can submit their information at www.glancylaw.com/cases/Mynaric-AG/. For further inquiries, contact Charles H. Linehan from GPM at 310-201-9150 or toll-free at 888-773-9224. You may also reach him via email at shareholders@glancylaw.com.

Allegations Against Mynaric

The complaint asserts that during the class period, Mynaric and its executives did not inform investors of crucial issues hindering the company’s performance. These issues include: (1) lower-than-expected production yields, (2) supply shortages affecting key components for Mynaric’s CONDOR Mk3 product, (3) anticipated material negative impacts on revenue growth and increased chances of operating losses, (4) the likelihood that Mynaric would not meet its financial guidance for FY 2024, and (5) the misleading nature of the company’s previous positive statements regarding its business and performance.

Next Steps for Investors

Currently, you do not need to take action to be part of the class action. You can decide to hire an attorney or remain an absent member. If you have any questions about your rights related to this lawsuit, please contact Charles Linehan, Esquire, at GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, or via the contact details previously mentioned.

This press release may be regarded as Attorney Advertising in certain jurisdictions, in accordance with applicable laws and ethical guidelines.

Contact Information

Contacts
Glancy Prongay & Murray LLP, Los Angeles
Charles Linehan, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com

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SOURCE Glancy Prongay & Murray LLP