A securities class action has been filed against Array Technologies, Inc. (ARRY) on behalf of persons or entities who purchased or otherwise acquired Array securities between October 14, 2020 through May 11, 2021. This case has been filed in the USDC – S.D.N.Y.
The Complaint alleges that during the Class Period, Array and the Individual Defendants made false and misleading statements and engaged in a scheme to deceive the market and a course of conduct that artificially inflated the prices of Array securities, and operated as a fraud or deceit on Class Period purchasers of Array securities by misrepresenting the Company’s business and prospects. Later, when Defendants’ prior misrepresentations and fraudulent conduct became known to the market, the price of Array securities declined as the prior artificial inflation came out of the price over time. As a result of their purchases of Array securities during the Class Period, Plaintiff and other members of the Class suffered economic loss, i.e., damages, under the federal securities laws.