Hagens Berman seeks Photronics investors for lead plaintiff role before Sept. 4 deadline
Hagens Berman says it is investigating claims tied to Photronics shares and urging investors with losses to seek lead plaintiff appointment by Sept. 4, 2026.
Hagens Berman is urging investors who bought Photronics, Inc. shares during a stated class period to seek lead plaintiff appointment in a pending securities class action before a Sept. 4, 2026 deadline, according to a Sept. 3 notice filed in San Francisco.
The notice says the case centers on Photronics, a semiconductor photomask maker that trades on Nasdaq under ticker PLAB. It says investors who purchased shares between Dec. 10, 2025 and May 27, 2026 and suffered losses may seek appointment as lead plaintiff.
The notice says the case follows a sharp stock decline and allegations that company statements about demand and product pipeline conditions were misleading. According to the notice, Photronics disclosed second-quarter fiscal 2026 results on May 28, 2026, showing sequential declines in total revenue, an 11% drop in IC revenues and compressed operating margins.
Hagens Berman says the company then retreated from prior guidance and blamed the shortfall on a failed seasonal recovery after the Chinese New Year and on operational bottlenecks. The notice also says Photronics' stock fell 36% in one trading session, erasing more than $1.1 billion in shareholder value.
The notice summarizes the lawsuit's allegations as claims that Photronics and its management made materially false and misleading statements about the condition of its high-end integrated circuit photomask product pipeline and global order patterns. It says the company told investors global demand remained robust and that healthy order patterns would offset post-holiday seasonality.
Hagens Berman says the suit contends the design release pipeline instead faced severe and ongoing bottlenecks tied to elevated fab usage rates and equipment cost pressures. The notice also alleges that management knew, or recklessly disregarded, those conditions while continuing to maintain positive financial guidance.
Reed Kathrein, identified in the notice as the Hagens Berman partner leading the investigation, said the firm is probing when management knew demand for IC products was deteriorating. The notice also says whistleblowers with non-public information about Photronics should consider assisting the investigation or using the SEC whistleblower program, which the notice says can pay rewards of up to 30% of a successful SEC recovery.
The lead plaintiff deadline is Sept. 4. The notice says investors who qualify and wish to pursue the case must act before then. Hagens Berman also says it has secured more than $2.9 billion in this area of law.
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