Cision PR Newswire

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of IronNet, Inc. - IRNT

NEW YORK, June 8, 2022 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of IronNet, Inc. ("IronNet" or the "Company") (NYSE: IRNT). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether IronNet and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action] 

On December 15, 2021, IronNet announced its financial results for the third quarter ended October 31, 2021 and issued revenue guidance for the coming year. For 2022, IronNet advised that the Company expected revenue of approximately $26 million, down sharply from previous guidance, issued in September 2021, in the range of $43 million to $45 million. On an earnings call later that day, the Company stated that "we and Sean Foster, our Chief Revenue Officer, have mutually agreed that he will depart our company at the end of December to pursue other opportunities." IronNet also admitted on the earnings call that, despite having first publicly issued IronNet's fiscal year 2022 guidance in March 2021, the Company did not have any confidence as to when substantial revenues underlying the guidance would actually come in. 

On this news, IronNet's stock price fell $2.14 per share, or 31.47%, to close at $4.66 per share on December 16, 2021.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980

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SOURCE Pomerantz LLP