Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Aug. 21, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Natural Alternatives International, Inc. (“NAI” or the “Company”) ( NAII) investors that the firm has initiated an investigation into possible securities violations and may file a class action on behalf of investors. NAI investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On August 16, 2023, Natural Alternatives International (NAI) released a press statement announcing the temporary closure of its newly established facility in Carlsbad, California. The facility was intended to enhance NAI's production capabilities by incorporating high-speed powder blending and packaging to meet the needs of one of its major clients. However, due to this client's efforts to balance their supply and demand, they decided to temporarily halt their purchases from NAI. Consequently, NAI made the decision to temporarily shut down its high-speed powder blending and packaging facility. They provided advanced notice of sixty days to most of the facility's staff, who would be furloughed from early October until roughly December 31, 2023.
NAI expressed the belief that these economic circumstances would likely be short-lived. To incentivize furloughed employees to return once operations resumed, the company planned to cover their health insurance costs during the furlough period until December 31, 2023. NAI anticipated that it would recommence shipping new orders to the affected customer in the first quarter of the calendar year 2024.
As a result of this news, NAI's stock price experienced a substantial decline of $1.51 per share, equivalent to a decrease of 21.63%. This decline led to the stock closing at $5.47 per share on August 17, 2023.
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The Portnoy Law Firm represents investors in pursuing claims against 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 and NY Bar
[email protected]
310-692-8883
www.portnoylaw.com
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