ATLANTA, Aug. 30, 2023 (GLOBE NEWSWIRE) -- Holzer & Holzer, LLC informs investors that a class action lawsuit has been filed against NAPCO Security Technologies, Inc. (“NAPCO” or “the Company”) (NASDAQ: NSSC). The lawsuit alleges NAPCO made false or misleading statements or failed to disclose material adverse facts about the Company’s business, operations, and prospects, including: (1) NAPCO failed to address any material weaknesses with internal controls regarding COGS and inventory; (2) NAPCO downplayed the severity of material weaknesses regarding their internal controls; (3) NAPCO’s unaudited financial statements from September 30, 2022 to the present included “certain errors” such as overstating inventory and understanding net COGS, resulting in overstated gross profit, operating income and net income for each period; and (4) as a result, NAPCO would need to restate its previously filed unaudited financial statements for certain periods.

If you bought shares of NAPCO between November 7, 2022 and August 18, 2023, and you suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey Holzer, Esq. at cholzer@holzerlaw.com or Joshua Karr, Esq. at jkarr@holzerlaw.com, by toll-free telephone at (888) 508-6832 or you may visit the firm’s website at www.holzerlaw.com/case/napco/ to learn more.

The deadline to ask the court to be appointed lead plaintiff in the case is October 30, 2023.

Holzer & Holzer, LLC, an ISS top rated securities litigation law firm for 2021 and 2022, dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct. More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey Holzer is the attorney responsible for its content.

CONTACT:
Corey Holzer, Esq.
(888) 508-6832 (toll-free)
cholzer@holzerlaw.com

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