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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.
In order to be eligible to join the PRLB class action lawsuit, you must have incurred a loss on shares of Proto Labs purchased during the class period listed above.
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