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NEW YORK, June 1, 2025 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Photronics, Inc. ("Photronics" or the "Company") (NASDAQ: PLAB). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Photronics and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On May 28, 2025, Photronics issued a press release reporting its financial results for the second quarter of 2025. Among other items, Photronics reported revenue of $210.99 million, representing a 2.8% year-over-year decline and missing consensus estimates by $1.01 million, and non-GAAP earnings per share of $0.40, missing consensus estimates by $0.08. Photronics also issued third quarter revenue guidance in the range of $200 million to $208 million, compared to consensus estimates of $220 million. In the same press release, Photronics announced the resignation of Dr. Frank Lee from his role as the Company's Chief Executive Office, effective immediately.
On this news, Photronics' stock price fell $3.12 per share, or 15.55%, to close at $16.94 per share on May 28, 2025.
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.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
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SOURCE Pomerantz LLP
