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The filed complaint alleges that Photronics, Inc. made materially false and/or misleading statements and/or failed to disclose that: Photronics issued a press release on May 28, 2025, reporting its financial results for the second quarter of 2025. Among other items, Photronics reported revenue of $210.99 million, representing a 2.8% year-over-year decline and missing consensus estimates by $1.01 million, and non-GAAP earnings per share of $0.40, missing consensus estimates by $0.08. Photronics also issued third quarter revenue guidance in the range of $200 million to $208 million, compared to consensus estimates of $220 million. In the same press release, Photronics announced the resignation of Dr. Frank Lee from his role as the Company's Chief Executive Office, effective immediately. Following this news, Photronics' stock price fell over 15% on the same day.
In order to be eligible to join the PLAB class action lawsuit, you must have incurred a loss on shares of Photronics, Inc. purchased during the class period listed above.
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