Shareholder alert: investigation of byrna technologies inc. (byrn) announced by johnson fistel

San diego, oct. 29, 2024 (globe newswire) -- shareholder rights law firm johnson fistel, llp is investigating whether byrna technologies inc. (nasdaq: byrn) or any of its executive officers or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. on october 29, 2024, bonitas research issued a report questioning byrna's primary sales channels, sales growth, and profitability. the report states that “byrna's earnings call highlighted the specific importance of its ‘premier dealer' network and disclosed byrna had twenty (20) ‘premier dealers' as of april 5, 2024. we found some byrna ‘premier dealers' were secondary businesses using ad-hoc shooting ranges in garages and back alleys with little to no retail presence.” bonitas research also contacted 20% of byrna's authorized dealers, revealing multiple ‘authorized dealers' with no online presence nor independent retail storefronts, including a car wash, a tea shop, a uniform embroidery shop, and a barbershop. we found that byrna's “authorized dealer” list included storefronts that did not carry launchers in stock and had not placed a restocking order in the last 90 days.”
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