Press release
Investigation announced for Investors who lost money with shares of Mynaric AG (NASDAQ: MYNA)
An investigation for investors in Mynaric AG (NASDAQ: MYNA) shares over potential securities laws violations by Mynaric AG.
Investors who purchased shares of Mynaric AG (NASDAQ: MYNA), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Mynaric AG (NASDAQ: MYNA) concerning whether certain statements by Mynaric AG regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Munich, Germany based Mynaric AG develops and manufactures laser communication products for aerospace-based communication networks for government and commercial markets in the United States and internationally.
On August 20, 2024, Mynaric AG revised its 2024 financial guidance, attributing the adjustments to production challenges. Specifically, the IFRS-15 revenue forecast was slashed to EUR 16.0-24.0 million from a previous estimate of EUR 50.0-70.0 million, while the expected operating loss was increased to EUR 55.0-50.0 million from EUR 40.0-30.0 million. Production delays, lower yields, and component shortages were cited as primary reasons for the more cautious outlook. With only EUR 6.3 million in cash as of August 16, 2024, the company is actively seeking additional capital to ensure ongoing operations and ramp up production. Moreover, the company announced the voluntary departure of CFO Stefan Berndt.
Shares of Mynaric AG (NASDAQ: MYNA) declined from $7.58 per share on December 15, 2023, to $0.80 per share on September 05, 2024.
Those who purchased shares of Mynaric AG (NASDAQ: MYNA) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, 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, investigations, and/or settlements are not filed/initiated/reached and/or are not 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.
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