NEW YORK, August 21, 2023: Wolf Popper LLP is investigating potential securities fraud claims on behalf of purchasers of NAPCO Security Technologies, Inc. (“NAPCO”) common stock (NASDAQ: NSSC).
NAPCO manufactures and designs high-tech electronic security devices.
After the market closed on August 18, 2023, NAPCO disclosed it will need to restate its financial statements for the fiscal quarters ended September 30, 2022, December 31, 2022 and March 31, 2023. NAPCO found misstatements in its calculations of cost of goods sold and inventory, and as a result, inventories were overstated and cost of goods sold was understated, and profits were overstated. In early morning trading on August 21, 2023, NAPCO’s stock price is down $16.74 per share to $21.67, a drop of 43.6%.
Investors who have lost over $50,000 trading in NAPCO’s common stock and who would like to discuss the investigation should contact Adam Savett at (212) 451-9655, or asavett@wolfpopper.com.
Wolf Popper has successfully recovered billions of dollars for defrauded investors. Wolf Popper’s reputation and expertise have been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation. For more information about Wolf Popper, please visit the Firm’s website at www.wolfpopper.com.
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Contact Instructions
Phone: Adam Savett - (212) 451-9655
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