Overview

A class action lawsuit has been filed against AMMO, Inc. (“AMMO” or the “Company”) (NASDAQ: POWW) and certain of the Company’s former and current senior executive officers alleging violations of the federal securities laws.  The AMMO class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired AMMO securities between August 19, 2020, and September 24, 2024, both dates inclusive (the “Class Period”).  Investors have until November 29, 2024, to seek appointment as lead plaintiff in the AMMO class action lawsuit.

AMMO designs, produces, and markets ammunition and ammunition component products for public consumers, manufacturers, and law enforcement and military agencies.

The AMMO class action lawsuit alleges that Defendants, throughout the Class Period, made materially false and/or misleading statements as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects.  Specifically, Defendants failed to disclose to investors: (1) that the Company lacked adequate internal controls over financial reporting; (2) that there was a substantial likelihood the Company failed to accurately disclose all executive officers, members of management, and potential related party transactions in fiscal years 2020 through 2023; (3) that there was a substantial likelihood the Company failed to properly characterize certain fees paid for investor relations and legal services as reductions of proceeds from capital raises rather than period expenses in fiscal years 2021 and 2022; (4) that there was a substantial likelihood the Company failed to appropriately value unrestricted stock awards to officers, directors, employees and others in fiscal years 2020 through 2022; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

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If you purchased or otherwise acquired AMMO securities between August 19, 2020, and September 24, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected]. 

The deadline to apply to the Court to serve as a lead plaintiff in the AMMO class action lawsuit is November 29, 2024.