Wrap Technologies, Inc. (NASDAQ: WRTC)
Company Name:Wrap Technologies, Inc.
Stock Symbol:NASDAQ: WRTC
Class Period Start:04/29/2020
Class Period End (inclusive):09/23/2020
According to the Complaint, Wrap Technologies, Inc. purports to develop security products for law enforcement and security personnel, including the BolaWrap 100, a hand-held remote restraint device that discharges an eight-foot bola style Kevlar tether to entangle a subject at a range of 10-25 feet.
The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Company had concealed the results of the LAPD BolaWrap pilot program, which demonstrated that the BolaWrap was ineffective, expensive, and sparingly used in the field; and (2) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.