Kaplan Fox & Kilsheimer LLP said a class action lawsuit has been filed against Photronics, Inc. on behalf of investors who bought or otherwise acquired the company’s securities between December 10, 2025 and May 27, 2026. The proposed class can ask the court to appoint a lead plaintiff by September 4, 2026. The case centers on Photronics’ May 28, 2026 announcement of fiscal second-quarter 2026 results that the complaint says showed revenue and earnings well below internal projections, alongside a critical 11% sequential decline in IC revenue. The complaint further alleges management said an expected seasonal recovery after the Chinese New Year holiday failed to materialize because of extensive new product launch delays, elevated fab utilization rates and geopolitical uncertainty. Photronics shares fell more than 36% on May 28, 2026 after the disclosure, according to the complaint.