Investors Can Step Forward in AMMO, Inc. Securities Fraud Case

LOS ANGELES, Oct. 25, 2024 /PRNewswire/ — The Law Offices of Frank R. Cruz announced that investors who have experienced significant losses now have the chance to lead a class action lawsuit for securities fraud against AMMO, Inc. (“AMMO” or the “Company”) POWW.

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

Shareholders who suffered losses can click here to participate.

The filed complaint claims that, during the Class Period, the Defendants failed to inform investors: (1) the company did not have sufficient internal controls over financial reporting; (2) there was significant risk that the Company did not accurately reveal all executive officers, management members, and potential related party transactions from 2020 to 2023; (3) there was a strong chance the Company misclassified payments made for investor relations and legal services as reductions of capital raise proceeds instead of expenses during 2021 and 2022; (4) there was substantial risk of improper valuation of unrestricted stock awards to officers, directors, and employees from 2020 to 2022; and (5) as a result of these issues, Defendants’ positive statements regarding the Company’s business, operations, and prospects were misleading and not based on solid evidence.

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To join the class action, no immediate action is required. Shareholders may choose to consult their own attorney or do nothing and remain part of the class. For more information about this legal case, or if you have questions regarding your rights in the lawsuit, contact Frank R. Cruz, at The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067, via phone at 310-914-5007, email to [email protected], or visit the website www.frankcruzlaw.com. Inquiries via email should include your mailing address, phone number, and details on shares purchased.

This press release might be considered Attorney Advertising in certain jurisdictions, subject to applicable laws and ethical rules.

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SOURCE The Law Offices of Frank R. Cruz, Los Angeles