A lawsuit was filed on behalf of investors in IronNet, Inc. (NYSE:IRNT) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 05/04/2022 -- An investor, who purchased shares of IronNet, Inc. (NYSE: IRNT), filed a lawsuit over alleged violations of Federal Securities Laws by IronNet, Inc..
Investors who purchased shares of IronNet, Inc. (NYSE: IRNT) have certain options and for certain investors are short and strict deadlines running. Deadline: June 21, 2022. NYSE: IRNT investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On August 27, 2021, IronNet, Inc. became a publicly-traded company via a merger with LGL Systems Acquisition Corp. ("LGL"), a blank check company otherwise known as a special purpose acquisition vehicle ("SPAC").
On December 15, 2021, IronNet, Inc. announced its financial results for the third quarter ended October 31, 2021, and issued revenue guidance for the year. For 2022, IronNet expects revenue of approximately $26 million; previous guidance, issued in September 2021, was $43-45 million.
Shares of IronNet, Inc. (NYSE: IRNT) declined from $8.51 per share on December 7, 2021, to as low as $3.98 per share on December 20, 2021, respectively $2.65 per share on January 24, 2022.
The plaintiff claims that between September 15, 2021 and December 15, 2021, the defendants made materially false and misleading statements and failed to disclose known adverse facts about IronNet's business, operations, and prospects, including that the Company had materially overstated its business and financial prospects, that the Company was unable to predict the timing of significant customer opportunities which constituted a substantial portion of its publicly-issued FY 2022 financial guidance, that the Company had not established effective disclosure controls and procedures to reasonably ensure its public disclosures were timely, accurate, complete, and not otherwise misleading, and that as a result, the Company's public statements were materially false, misleading, and/or lacked any reasonable basis in fact at all relevant times.
Those who purchased shares of IronNet, Inc. (NYSE: IRNT) have certain options and should contact the Shareholders Foundation.
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About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.