NEW YORK, Aug. 26, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Mynaric AG ("Mynaric" or the "Company") (NASDAQ: MYNA). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.

The investigation concerns whether Mynaric and certain of its officers and/or directors have engaged in securities fraud or 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, Mynaric's stock price fell $2.32 per share, or 55.9%, to close at $1.83 per share on August 20, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

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CONTACT:

Danielle Peyton

Pomerantz LLP

dpeyton@pomlaw.com

646-581-9980 ext. 7980

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SOURCE Pomerantz LLP