NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is investigating potential claims against Mynaric AG (“Mynaric” or the “Company”) (NASDAQ: MYNA). The investigation concerns whether Mynaric and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
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On August 20, 2024, Mynaric issued a press release providing an update to its full-year 2024 guidance, advising that “the company now expects full-year 2024 IFRS-15 revenue to range between EUR 16.0 million to EUR 24.0 million compared to previous guidance of a range between EUR 50.0 million to EUR 70.0 million”, citing “production delays of CONDOR Mk3 caused by lower than expected production yields and component supplier shortages of key components”; and that “the company now expects full-year 2024 operating loss to range between a loss of EUR 55.0 million to EUR 50.0 million compared to previous guidance of a range between a loss of EUR 40.0 million to EUR 30.0 million”, citing “the lower than expected revenue and higher than expected production costs due to lower yields.” In a separate press release, Mynaric “announce[d] the voluntary departure of CFO Stefan Berndt von-Bülow for personal reasons, effective last week.” On this news, the price of Mynaric shares declined by $2.32 per share, or approximately 55.9%, from $4.15 per share on August 19, 2024 to close at $1.83 per share on August 20, 2024.
If you purchased or otherwise acquired Mynaric securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this CONTACT FORM, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars.
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