A Shocking Unveil
On September 24, 2024, the investing world witnessed a seismic event. AMMO, Inc. (“AMMO”) dropped a bombshell – its Chief Financial Officer had resigned under murky circumstances, as “requested by the Board.” Moreover, the Company confessed to an internal probe into its “internal control over financial reporting for the fiscal years 2020 through 2023.” The fallout was immediate and brutal – a hemorrhaging of AMMO’s stock value in after-hours trading, dealing a crushing blow to shareholders.
A Legal Thunderstorm
In the aftermath, Glancy Prongay & Murray LLP (“GPM”), a legal heavyweight renowned for championing investor rights, stepped onto the stage. GPM unveiled an investigation into AMMO on behalf of wounded investors, scrutinizing potential breaches of federal securities laws by the Company. Shareholders reeling from the sudden plunge in AMMO’s fortunes were beckoned to seek solace and justice through GPM’s legal prowess.
The Legal Eagles Soar
GPM, with a stellar track record in securities litigation, stood out as a beacon for those navigating the tumultuous waters of complex class action litigation. Having secured monumental victories and multi-billion dollar settlements, GPM’s cadre of nearly 40 attorneys spread across four offices has been a force to reckon with. Their expertise spans a wide spectrum of corporate malfeasance, from financial restatements to insider trading to violation of FDA regulations, leaving no stone unturned in the pursuit of justice.
A Call to Action
Channels were opened for investors, beckoning them to join the quest for truth. The air buzzed with whispers of a Whistleblower Notice, tantalizing those privy to confidential information about AMMO to step forward. The SEC Whistleblower Program dangled the tantalizing prospect of up to 30 percent in rewards, fueling hopes of righting wrongs and holding errant entities accountable for their transgressions.
