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The filed complaint alleges that Northrop Grumman Corporation made materially false and/or misleading statements and/or failed to disclose that: Northrop Grumman issued a press release on April 22, 2025, announcing its financial results for the first quarter of 2025. Among other items, Northrop Grumman reported revenue of $9.47 billion, representing a 7% year-over-year decline and missing consensus estimates by $480 million. The Company's results included a charge of $477 million pretax tied to manufacturing updates related to its B-21 bomber program. On a related earnings call, Northrop Grumman's Chief Executive Officer attributed the "charges on the [B-21 bomber] program" largely to "inflationary factors[.]" Following this news, Northrop Grumman's stock price fell over 12% on the same day.
In order to be eligible to join the NOC class action lawsuit, you must have incurred a loss on shares of Northrop Grumman purchased during the class period listed above.
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