MYNA.US
id: 1377
Mynaric ($MYNA) Investor Settlement
Eligible claimants can submit their claims for compensation.
$300,000
Cash SettlementE.D. New York
Court 1:24-cv-07602
Case number06/20/2024
Class period Start01/03/2025
Class period End08/04/2025
Claim deadlineMynaric 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
Who is eligible for this settlement?
Do I have to sell securities to be eligible?
How long does the payout process take?
How much will my payment be?
How to get your payout?
What is 11th.com?