AMMO, Inc. (NASDAQ: POWW)

This lawsuit is for anyone who acquired securities in AMMO, Inc. (NASDAQ: POWW) from August 19, 2020 through September 24, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by telling investors that the Company had sufficient controls over its financial reporting when the Company lacked such controls.

On September 24, 2024, after market hours, AMMO announced that its Chief Financial Officer had resigned “at the request of the Board.” Additionally, the Company disclosed that it is conducting an independent investigation into its “internal control over financial reporting for the fiscal years 2020 through 2023.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in AMMO, Inc. (NASDAQ: POWW) from August 19, 2020 through September 24, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.