Opportunity for POWW Investors to Lead Class Action Against AMMO, Inc. for Securities Fraud

A New Opportunity for POWW Investors

Recently, Glancy Prongay & Murray LLP (GPM) announced a significant development regarding the proposed class action lawsuit against AMMO, Inc. (NASDAQ POWW). Investors who faced notable losses in this period have a unique chance to serve as lead plaintiffs in a securities fraud case against the company.

Background of the Case

The class action period is designated from August 19, 2020, to September 24, 2024. Investors who wish to participate must submit their information to GPM by November 29, 2024, to be eligible as the lead plaintiff.

The allegations highlight several critical issues with AMMO, Inc.’s handling of financial reports and disclosures. Claiming that the company lacked adequate internal controls over its financial operations, the complaint argues that AMMO failed to accurately disclose vital information regarding executive officers, management members, and potential related party transactions from fiscal years 2020 to 2023.

Key Allegations:

1. Financial Controls: There were substantial shortcomings in AMMO’s internal controls, leading to inaccurate financial reporting.
2. Misleading Disclosures: The complaint suggests AMMO did not transparently listen about the executive team and other significant affiliations that could pose a conflict of interest.
3. Improper Fee Characterization: Fees paid for investor relations and legal services may have been overlooked as capital raise expenses instead of operating costs in 2021 and 2022.
4. Valuation Issues: The company potentially misvalued unrestricted stock awards granted to its officers and others over a span of three years, raising concerns about the fairness of compensation and reporting standards.
5. Misleading Statements: As a result of these failures, AMMO's positive statements regarding the company’s operations and prospects could be construed as materially misleading without a solid foundation.

Rights of Class Members

For investors looking to become part of this class action, immediate action is not mandatory. Individuals may choose to seek representation or remain passive while retaining membership in the action. For those wishing to discuss their rights or learn more about participating in this lawsuit, GPM has provided multiple contact channels. You may inquire via phone at 310-201-9150, toll-free at 888-773-9224, or by email at [email protected] Additionally, for more details, interested parties can visit the official GPM webpage dedicated to this case.

Keeping Investors Informed

GPM encourages potential class members to stay updated through social media platforms such as LinkedIn, Twitter, and Facebook. By keeping lines of communication open, the firm aims to provide timely updates and essential notifications regarding the case progress.

Conclusion

As the deadline for filing approaches, investors who have experienced substantial losses related to AMMO, Inc. should seriously consider their legal opportunities under this class action lawsuit. It presents a crucial chance to hold the company accountable for its alleged misconduct and to seek reparations for the losses suffered during these tumultuous financial periods.

For further inquiries or legal assistance, do not hesitate to get in touch with Charles Linehan, an attorney at GPM, dedicated to representing the interests of affected investors.

References

For more extensive information regarding related legal updates or to explore similar shareholder actions, please visit Glancy Prongay & Murray LLP’s website at www.glancylaw.com.