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Shareholder Alert: Robbins LLP Announces NN, Inc. (NNBR) Sued for Misleading Shareholders

November 6, 2019

SAN DIEGO & CHARLOTTE, N.C.--(BUSINESS WIRE)--Nov 6, 2019--

Shareholder rights law firm Robbins LLP announces that a purchaser of NN, Inc. (NASDAQ: NNBR) has filed a class action complaint against the company for alleged violations of the Securities Act of 1933 pursuant to its September 2019 secondary public offering (“SPO”). NN is a diversified industrial company that designs and manufactures high-precision components and assemblies in various countries.

If you suffered a loss as a result of NN’s stock, click here.

NN, Inc. (NNBR) Accused of Misleading Investors in IPO

According to the complaint, NN completed its SPO on September 14, 2018, offering 14,375,000 million shares of NN common stock at $16.00 per share for gross proceeds of $216 million. In its Registration Statement, NN claimed that its relationships with hundreds of customers around the world inoculated it against fluctuations in particular markets and touted the company’s global footprint, including the “significant growth potential” of its Asian facilities. However, NN’s offering documents concealed massive problems in the company, including that as of the date of the SPO NN’s earnings and profitability were being negatively impacted by fluctuations in the Chinese auto market and problems in the Power Solutions sector. Since its SPO, the price of NN’s stock has plummeted, currently trading at $8.24, an almost 49% decline from its SPO price.

NN, Inc. (NNBR) Shareholders Have Legal Options

Contact us to learn more:
Leo Kandinov
(800) 350-6003
LKandinov@robbinsllp.com
Shareholder Information Form

Robbins LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Click here to receive free alerts from Stock Watch when companies engage in wrongdoing.

Attorney Advertising. Past results do not guarantee a similar outcome.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191106005845/en/

CONTACT: Leo Kandinov

Robbins LLP

5040 Shoreham Place

San Diego, CA 92122

LKandinov@robbinsllp.com

(619) 525-3990 or Toll Free (800) 350-6003

www.robbinsllp.com

KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: Robbins LLP

Copyright Business Wire 2019.

PUB: 11/06/2019 01:43 PM/DISC: 11/06/2019 01:43 PM

http://www.businesswire.com/news/home/20191106005845/en