BENSALEM, Pa.–(BUSINESS WIRE)–Law Offices of Howard G. Smith announces an investigation on behalf of SmartRent, Inc. (“SmartRent” or the “Company”) (NYSE: SMRT) investors concerning the Company’s possible violations of federal securities laws.
On September 8, 2023, Bleeker Street Research published a report alleging, among other things, that the “smart” locks that SmartRent distributes “to large multi-family properties” are sourced from “a Croatian supplier that had a known security vulnerability” and stated that several employees described the company as a “mess” with a “broken culture.”
On this news, SmartRent’s stock price fell $0.27, or 8.8%, to close at $2.80 per share on September 11, 2023, thereby injuring investors.
Then, on March 5, 2024, SmartRent released its fourth quarter and full year 2023 financial results and disclosed that it was still “working through” lingering overhang from older contracts.
On this news, SmartRent’s stock price fell $0.13, or 4.5%, to close at $2.76 per share on March 5, 2024, thereby injuring investors further.
If you purchased SmartRent securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
