Levi & Korsinsky notifies investors that it has commenced an investigation into Proto Labs, Inc. (NYSE: PRLB) concerning potential violations of the federal securities laws.
On November 4, 2022, Proto reported Q3 results meeting the low end of its prior guidance and then announced lower than expected guidance for Q4 2024. Proto attributed it to “a decline in our injection molding revenue, predominantly due to the challenging macroeconomic climate” in addition to the negative impacts of foreign currency and “the closure of [Proto’s] Japan operation.” Analysts were skeptical of Proto’s explanation, pointing to increased competition as an alternate contributing factor for the decline. Following this news, Proto’s stock price fell by $11.09 per share to close at $24.62 per share.
If you suffered a loss on your Proto Labs securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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