{"id":980726,"date":"2026-07-10T12:25:02","date_gmt":"2026-07-10T16:25:02","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-photronics-inc-plab\/"},"modified":"2026-07-10T12:25:02","modified_gmt":"2026-07-10T16:25:02","slug":"gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-photronics-inc-plab","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-photronics-inc-plab\/","title":{"rendered":"Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Photronics, Inc. (PLAB)"},"content":{"rendered":"
\n

NEW YORK, July 10, 2026 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the District of Connecticut on behalf of all persons or entities who purchased or otherwise acquired Photronics, Inc. (\u201cPhotronics\u201d or the \u201cCompany\u201d) (NASDAQ: PLAB) securities between December 10, 2025 to May 27, 2026, inclusive (the \u201cClass Period\u201d).<\/p>\n

The Complaint alleges that Defendants failed to disclose to investors that Photronics\u2019 high-end product pipeline, customer schedules, and the stability of the alleged demand for its products; notably, that the seasonal recovery and design release momentum following the Chinese New Year holiday the Company was claiming would develop had stalled. The Complaint further alleges that Photronics was experiencing a critical bottleneck in its design release pipeline that rendered its forward growth expectations unachievable. The Complaint alleges that such statements absent these material facts caused Plaintiff and other shareholders to purchase Photronics\u2019 securities at artificially inflated prices.<\/p>\n

The Complaint also alleges that on May 28, 2026, Photronics announced its financial results for the second quarter of fiscal 2026, revealing revenue and earnings well-below internal projections and highlighting a critical collapse of IC revenue by 11% sequentially. The Complaint continues to allege that management further provided third-quarter guidance below market consensus as the slowdown was expected to continue and margins were expected to continue their trend of compression. The Complaint further alleges that management claimed that the projected seasonal recovery following the Chinese New Year holiday had failed to materialize due to extensive new product launch delays, elevated fab utilization rates, and geopolitical uncertainty.<\/p>\n

The Complaint states that investors and analysts reacted immediately to Photronics\u2019 revelation. The Complaint further alleges that the price of Photronics\u2019 common stock declined dramatically, from a closing market price of $53.51 per share on May 27, 2026, Photronics\u2019 stock price fell to $34.02 per share on May 28, 2026, a decline of about 36.42% in the span of just a single day.<\/p>\n

Investors who purchased or otherwise acquired shares of Photronics should contact the Firm prior to the September 4, 2026<\/em><\/strong> lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com<\/u><\/a> or gegleston@gme-law.com<\/u><\/a>.<\/p>\n

Please visit our website at http:\/\/www.gme-law.com<\/u><\/a> for more information about the firm.<\/p>\n

\"\"
\n
\n \"\"\n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, July 10, 2026 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the District of Connecticut on behalf of all persons or entities who purchased or otherwise acquired Photronics, Inc. (\u201cPhotronics\u201d or the \u201cCompany\u201d) (NASDAQ: PLAB) securities between December 10, 2025 to May 27, 2026, inclusive (the \u201cClass Period\u201d). The Complaint alleges that Defendants failed to disclose to investors that Photronics\u2019 high-end product pipeline, customer schedules, and the stability of the alleged demand for its products; notably, that the seasonal recovery and design release momentum following the Chinese New Year holiday the Company was claiming would develop had stalled. The Complaint further alleges … <\/p>\n

Continue reading “Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Photronics, Inc. (PLAB)”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-980726","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nGainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Photronics, Inc. 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(\u201cPhotronics\u201d or the \u201cCompany\u201d) (NASDAQ: PLAB) securities between December 10, 2025 to May 27, 2026, inclusive (the \u201cClass Period\u201d). The Complaint alleges that Defendants failed to disclose to investors that Photronics\u2019 high-end product pipeline, customer schedules, and the stability of the alleged demand for its products; notably, that the seasonal recovery and design release momentum following the Chinese New Year holiday the Company was claiming would develop had stalled. The Complaint further alleges … Continue reading "Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Photronics, Inc. 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