Byrna Technologies Inc. (BYRN)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Byrna Technologies Inc. (“Byrna” or the “Company”) (NASDAQ: BYRN). Investors who purchased Byrna securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Byrna has violated federal securities laws.
On July 11, 2023, Byrna issued a press release announcing selected financial results for its fiscal second quarter ended May 31, 2023. Among other items, Byrna reported GAAP earnings per share (“EPS”) of -$0.05, wider than estimates of $-0.02, as well as revenue of $11.5 million, representing a 0.9% decrease from the prior year and missing expectations by $0.5 million. Byrna advised investors that “[i]n late March, Meta and Google simultaneously implemented a ban on any advertising by Byrna on their platforms, classifying Byrna as a ‘contraband’ product,” which affected the Company’s direct-to-consumer sales. Following this news, Byrna’s stock price fell $1.16 per share, or 22.22%, to close at $4.06 per share on July 11, 2023.
If you are aware of any facts relating to this investigation or purchased Byrna shares, you can assist this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
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