NSSC INVESTIGATION ALERT: Robbins Geller Rudman & Dowd LLP Announces Investigation into Napco Security Technologies, Inc. and Encourages Investors with Substantial Losses or Witnesses with Relevant Information to Contact the Firm

SAN DIEGO–(BUSINESS WIRE)–Robbins Geller Rudman & Dowd LLP is investigating potential violations of U.S. federal securities laws involving Napco Security Technologies, Inc. (NASDAQ: NSSC) focused on whether Napco Security and certain of its top executives made false and/or misleading statements and/or failed to disclose material information to investors.
If you have information that could assist in this investigation or if you are a Napco Security investor who suffered a loss and would like to learn more, you can provide your information here:
https://www.rgrdlaw.com/cases-napco-security-technologies-inc-investigation-nssc.html
You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com.
THE COMPANY: NAPCO Security develops, manufactures, and sells electronic security products in the United States and internationally.
THE REVELATION: On August 18, 2023, Napco Security revealed that its Audit Committee of the Board of Directors concluded Napco Security’s previously issued unaudited interim financial statements for the fiscal quarters ended September 30, 2022, December 31, 2022, and March 31, 2023 should no longer be relied upon. Napco Security further disclosed that it “identified certain errors related to [Napco Security]’s calculation of cost of goods sold (‘COGS’) and inventory for each of the first three quarters of fiscal 2023,” that Napco Security’s “costing procedures did not appropriately account for [certain] fluctuations,” and that “[a]s a result, inventories were overstated and COGS was understated, resulting in overstated gross profit, operating income and net income for each period.” Following this news, the price of Napco Security shares declined 45%.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: Robbins Geller is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list. And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 9 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
https://www.rgrdlaw.com/services-litigation-securities-fraud.html
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Robbins Geller Rudman & Dowd LLP
655 W. Broadway, Suite 1900, San Diego, CA 92101
J.C. Sanchez, 800-449-4900
jsanchez@rgrdlaw.com