CLASS ACTION UPDATE: Law Office of Brodsky & Smith Reminds Investors of Deadline in Class Action Against Array Technologies, Inc. (Nasdaq: ARRY)

BALA CYNWYD, June 21, 2021 /Access Wire/ – Law office of Brodsky & Smith reminds investors of the deadline to file regarding claims against Array Technologies, Inc. (“Array” or the “Company”) (Nasdaq: ARRY) for possible breaches of Federal Securities law. Array is one of the world’s largest manufacturers of ground-mounting systems used in solar energy projects.

If you purchased shares of Array between October 14, 2020, and May 11, 2021 (the “Class Period”), or purchased the Company’s shares pursuant and/or traceable to the October 2020 initial public offering (the “IPO”), or to the Company’s December 2020 offering (the “December 2020 SPO”), or March 2021 offering (the “March 2021 SPO, and together with the IPO and December 2020 SPO, the “Offerings”), and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. The deadline for filing is July 13, 2021. You may contact Marc Ackerman, Esquire or Jason Brodsky, Esquire at Brodsky & Smith, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, or by calling toll free 877-534-2590.

According to the filed complaint, in the Offerings, the defendants made no mention of issues revolving around, inter alia, material negative impacts of rising steel and freight costs on the Company’s operations. Furthermore, subsequent to the Offerings and during the Class Period, the defendants repeatedly and consistently painted a materially misleading picture of Array’s business and prospects that did not reflect these rising costs. As a result, the filed complaint alleges that throughout the Class Period and in the Offerings, the defendants made false and/or misleading statements and/or failed to disclose: (1) the ongoing impact of various rising costs, including costs related to certain supplies such as steel, as well as Array’s freight costs; and (2) as result of the foregoing, Array’s positive statements about its business and operations lacked a reasonable basis.

The truth was revealed on May 11, 2021 when, after the close of trading, Array issued a press release that reported, inter alia, lower revenues year-over-year and lower margins as a result of increased steel and shipping costs. Following this news, Array’s stock price dropped $11.49 per share on May 12, 2021 to close at $13.46.

Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.