Array Technologies, Inc. (NASDAQ: ARRY) Securities Fraud Class Action

Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Array Technologies, Inc. (“Array”) (NASDAQ: ARRY) securities between October 14, 2020 and May 11, 2021, inclusive (the “Class Period”).

Array is a renewable energy company that manufactures ground-mounting systems used in solar energy projects. 

The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the company’s business, operations and. prospects. Specifically, the complaint alleges that, in its Initial Public Offering, Defendants made no mention of issues revolving around, inter alia, material negative impacts of rising steel and freight costs on its operations. Furthermore, subsequent to the offerings during the Class Period, Defendants repeatedly and consistently painted a materially misleading picture of the Company’s business and prospects that did not reflect these rising costs. After the offerings, and subsequent to the Class Period, Array disclosed that it was experiencing increases in steel prices and substantial increases in the cost of both ocean and truck freight that in turn were having a material impact on its margins for the foreseeable future. This caused Array to miss profit expectations and withdraw its full-year outlook.

Current Status of Case:
On May 19, 2023, the Court granted Defendants’ Motion to Dismiss. On August 4, 2023, the Lead Plaintiffs appealed the dismissal to the United States Court of Appeals for the Second Circuit. The parties presented oral arguments on June 26, 2024, and on March 24, 2026, the Second Circuit Court affirmed the dismissal. This action has concluded.    

If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs' Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.