Investors Take Action: AMMO, Inc. Faces Class Action Lawsuit
Details of the Class Action Lawsuit
LOS ANGELES, Nov. 8, 2024 /PRNewswire/ — The Law Offices of Frank R. Cruz report that shareholders who have incurred significant losses can lead a securities fraud class action against AMMO, Inc. (“AMMO” or the “Company”) POWW.
Important Dates for Participants
Class Period: August 19, 2020 – September 24, 2024
Lead Plaintiff Deadline: November 29, 2024
Shareholders who experienced losses are encouraged to click here to participate.
Allegations Against AMMO, Inc.
The lawsuit accuses the defendants of failing to disclose critical information during the Class Period. They allegedly did not inform investors that:
- The company lacked adequate internal controls over financial reporting.
- There was a significant chance that not all executive officers and related party transactions were accurately reported from fiscal years 2020 to 2023.
- Certain fees for investor relations and legal services were incorrectly categorized in fiscal years 2021 and 2022 as reductions of proceeds from capital raises instead of expenses.
- The company improperly valued stock awards issued to officers and other key personnel between 2020 and 2022.
- As a result, the company’s positive statements concerning its performance and outlook were misleading and lacked a reasonable basis.
How to Get Involved
You do not need to take immediate action to join the class action. Shareholders can choose to retain their own attorney or remain absent members of the class action. For further details about this class action or any questions regarding this announcement and your rights, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, located at 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007. You can also reach out by email at info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you choose to email, please include your mailing address, phone number, and the number of shares purchased.
Additional Information
This press release may be considered Attorney Advertising in some jurisdictions under applicable law and ethical rules.
Contact Information
Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
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SOURCE The Law Offices of Frank R. Cruz, Los Angeles
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