Scott+Scott Attorneys at Law LLP is acting as local counsel for Barrack, Rodos & Bacine, who has been appointed lead counsel on behalf of all investors who purchased or otherwise acquired the securities of Photronics, Inc. between December 10, 2025 and May 27, 2026.
During the Class Period, Defendants made false and misleading positive statements to the market about Photronics’ business and its prospects while concealing material adverse facts concerning the true state of Photronics’ high-end product pipeline, customer schedules, and the stability of the alleged demand for its products.
On May 28, 2026, Photronics reported second quarter 2026 earnings, including revenue of $209 million, a year over year decline, and operating margins of 20.1%, down from 26.4% in the prior year. In a press release, the Company revealed that “[i]n the near term, certain design releases have been delayed due to elevated fab utilization rates, which are extending new product launch timelines, memory supply constraints and related cost pressures for OEMs, and geopolitical uncertainty.”
On this news, Photronics’ stock price fell $19.49 per share, or 36.4%, to close at $34.02 per share on May 28, 2026.
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