INVESTOR ALERT: IronNet, Inc. Investors with Substantial Losses Have Opportunity to Lead IronNet Class Action Lawsuit - IRNT

San Diego, California--(Newsfile Corp. - May 20, 2022) - Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of IronNet, Inc. (NYSE: IRNT) securities between September 15, 2021 and December 15, 2021, inclusive (the "Class Period") have until June 21, 2022 to seek appointment as lead plaintiff in Grad v. IronNet, Inc., No. 22-cv-00449 (E.D. Va.). The IronNet class action lawsuit charges IronNet and certain of its top executive officers with violations of the Securities Exchange Act of 1934.

If you suffered significant losses and wish to serve as lead plaintiff, please provide your information here:

https://www.rgrdlaw.com/cases-ironnet-inc-class-action-lawsuit-irnt,join.html

You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com.

CASE ALLEGATIONS: IronNet designs and develops solutions for cyberattacks. On August 27, 2021, IronNet became a publicly traded company via a merger with LGL Systems Acquisition Corp., a blank check company otherwise known as a special purpose acquisition vehicle ("SPAC"). On August 10, 2021, in anticipation of the merger vote, IronNet updated its financial forecasts "[d]ue to shifts in the anticipated closing of several new customer contracts." It forecasted fiscal year 2022 ("FY 2022") (ended January 31, 2022) revenues of $43 million to $45 million and annual recurring revenue ("ARR") of $75 million, among other things.

The IronNet class action lawsuit alleges that defendants made false and/or misleading statements and/or failed to disclose that: (i) IronNet had materially overstated its business and financial prospects; (ii) IronNet was unable to predict the timing of significant customer opportunities which constituted a substantial portion of its publicly issued FY 2022 financial guidance; (iii) IronNet had not established effective disclosure controls and procedures to reasonably ensure its public disclosures were timely, accurate, complete, and not otherwise misleading; and (iv) as a result, IronNet's public statements were materially false, misleading, and/or lacked any reasonable basis in fact at all relevant times.

Robbins Geller has launched a dedicated SPAC Task Force to protect investors in blank check companies and seek redress for corporate malfeasance. Comprised of experienced litigators, investigators, and forensic accountants, the SPAC Task Force is dedicated to rooting out and prosecuting fraud on behalf of injured SPAC investors. The rise in blank check financing poses unique risks to investors. Robbins Geller's SPAC Task Force represents the vanguard of ensuring integrity, honesty, and justice in this rapidly developing investment arena.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased IronNet securities during the Class Period to seek appointment as lead plaintiff. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.

ABOUT ROBBINS GELLER: Robbins Geller is ranked #1 on the 2021 ISS Securities Class Action Services Top 50 Report for recovering nearly $2 billion for investors last year alone –  more than triple the amount recovered by any other plaintiffs' firm. With 200 lawyers in 9 offices, Robbins Geller is one of the largest plaintiffs' firms in the world and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever –  $7.2 billion –  in In re Enron Corp. Sec. Litig. Please visit the following page for more information:

https://www.rgrdlaw.com/services-litigation-securities-fraud.html

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Contact:
Robbins Geller Rudman & Dowd LLP
655 W. Broadway, San Diego, CA 92101
J.C. Sanchez, 800-449-4900
jsanchez@rgrdlaw.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/124815