A class action lawsuit has been filed against Photronics on behalf of shareholders who purchased securities between December 10, 2025 and May 27, 2026. The suit follows a 36.42% single-day drop in PLAB shares from $53.51 to $34.02 on May 28, 2026, after the company reported second-quarter fiscal 2026 revenue of $209.9 million that missed projections and disclosed an 11% sequential decline in IC segment revenue to $147.5 million. The complaint alleges that prior statements about robust order patterns and high-end demand were materially false or misleading, artificially inflating the stock price during the class period. Investors seeking lead plaintiff status must file by September 4, 2026, and the case is being handled on a contingency basis by Levi & Korsinsky.
Photronics IncMissed Q2 revenue and sequential IC segment decline, causing 36% stock drop and class action lawsuit alleging misleading statements.