Photronics investors sue over alleged fraud tied to May 28 stock plunge

Pomerantz LLP, Wolf Haldenstein Adler Freeman & Herz LLP, Gainey McKenna & Egleston, Bronstein, Gewirtz & Grossman and Faruqi & Faruqi, LLP said securities class action lawsuits have been filed or are being pursued on behalf of investors who purchased or otherwise acquired Photronics, Inc. securities during the alleged class period, with September 4, 2026 as the deadline to seek appointment as lead plaintiff. Wolf Haldenstein, Gainey McKenna, Bronstein and Faruqi identified the class period as December 10, 2025 through May 27, 2026. The suits followed Photronics' May 28, 2026 fiscal second-quarter results, when the company reported $209 million in revenue, operating margins of 20.1% versus 26.4% a year earlier, weaker-than-expected results and third-quarter guidance below expectations. The complaints allege Photronics made materially false or misleading statements and omitted adverse facts, including alleged bottlenecks in its high-end product and chip design release pipeline, customer schedule issues, instability in demand, overstated sustainability of favorable order patterns and strength in its high-end product mix, and claims that a seasonal recovery after the Chinese New Year holiday had failed to develop. Photronics also said the expected recovery did not materialize because of extensive new product launch delays, elevated fab utilization rates, and geopolitical uncertainty. Its shares fell from $53.51 on May 27, 2026 to $34.02 on May 28, 2026, a drop of about 36.42%.