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MYNA.US
id: 1377

Mynaric ($MYNA) Investor Settlement

Eligible claimants can submit their claims for compensation.
$300,000
Cash Settlement
E.D. New York
Court
1:24-cv-07602
Case number
06/20/2024
Class period Start
01/03/2025
Class period End
08/04/2025
Claim deadline

Mynaric has reached a settlement with $MYNA investors over claims that it misled them about production delays, component shortages, and its ability to meet financial guidance for 2024.


Case Details

Throughout 2024, Mynaric AG assured investors that it would meet revenue projections and production targets for the CONDOR Mk3 laser communication terminals.

On June 20, 2024, the company forecasted revenue of €50-€70 million and an operating loss of €30-€40 million for the full year.

However, on August 20, 2024, Mynaric reduced its revenue forecast to €16-€24 million and increased its anticipated loss to €50-€55 million citing production delays and shortages of key components.

Additionally, within a week of the announcement, Mynaric’s Chief Financial Officer and Chief Executive Officer both departed the company, further undermining investor confidence.

Following these events, $MYNA fell by 55.9% on August 20.

Later, on October 8, 2024, Mynaric received a warning letter from Nasdaq due to non-compliance with listing requirements, causing the stock to fall again.

Based on these events, $MYNA investors filed a claim against Mynaric AG, accusing the company of the following:
  • The company failed to disclose production delays and component shortages impacting the CONDOR Mk3.
  • It misled investors about the likelihood of meeting its 2024 financial guidance and overstated the company’s financial and operational stability.
Based on these events, Mynaric shareholders filed a claim against the company, accusing it of failing to disclose production delays and component shortages impacting the CONDOR Mk3.
Case Type
US Securities Class Action
Case Status
Accepting Claims
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.137
Filing date
10/30/2024
Lead Plaintiff Deadline
12/29/2024
Plaintiffs
Alex Torstorff
Attorneys
Bronstein, Gewirtz & Grossman, LLC ; Pomerantz LLP
Defendants
Mustafa Veziroglu; Stefan Berndt-von Bülow
Judge
Kiyo A. Matsumoto
Administrator
Strategic Claims Services
Settlement agreement date
2025-04-28
Court hearing date
09/16/2025
Exclusion deadline
08/19/2025
Objection deadline
08/19/2025
Attorney fee
$120,000
Trades matching type
FIFO

Frequently Asked Questions

Mynaric AG ADR

Mynaric AG develops and manufactures laser communication products for aerospace-based communication networks for government and commercial markets in the United States and internationally. It opera...

    Ticker
    MYNA.US
    ISIN
    US62857X1019
    CIK
    0001850453
    Sector
    Technology
    Industry
    Communication Equipment
    Country
    USA
    Address
    Bertha-KipfmUeller-Strasse 2-8, Munich, Germany, 81249