LOS ANGELES, July 07, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Photronics, Inc., (“Photronics” or the "Company") (NASDAQ: PLAB) investors of a class action on behalf of investors that bought securities between December 10, 2025 - May 27, 2026, inclusive (the “Class Period”). Insulet investors have until September 4, 2026 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/photronics-inc. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
According to the complaint, during the class period, defendants created the false impression that they possessed reliable information pertaining to the Company’s projected revenue outlook and anticipated growth, while also minimizing risks from post-holiday seasonality and macroeconomic fluctuations. In truth, Photronics’ optimistic reports of demand growth, high-end product mix, and improving margins fell short of reality; the Company’s high-end chip design release pipeline was experiencing severe, ongoing bottlenecks due to elevated foundry utilization rates and equipment cost pressures.
Plaintiff alleges that on May 28, 2026, Photronics announced its financial results for the second quarter of fiscal 2026, revealing revenue and earnings well-below internal projections and highlighting a critical collapse of IC revenue by 11% sequentially. Management further provided third-quarter guidance below market consensus as the slowdown was expected to continue and margins were expected to continue their trend of compression. Management claimed that the projected seasonal recovery following the Chinese New Year holiday had failed to materialize due to extensive new product launch delays, elevated fab utilization rates, and geopolitical uncertainty. On this news, the price of Photronics’ common stock declined from a closing market price of $53.51 per share on May 27, 2026, to $34.02 per share on May 28, 2026, a decline of about 36.42% in the span of just a single day.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
Attorney Advertising
