Natural Alternatives International
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
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.
