Photronics, Inc. (NASDAQ: PLAB) Shares Plunge 36%, Erasing $1.1 Billion in Market Value, Securities Class Action Filed – HBSS

Photronics, Inc. faced a securities class action lawsuit after its stock plunged 36% on May 28, 2026, following disappointing Q2 2026 results. The company had previously assured investors of strong high-end IC demand and growth, but revealed significant revenue declines (-6.7%), IC revenue drops (-11%), and margin compression. The lawsuit alleges management misled investors by failing to disclose bottlenecks in the chip design pipeline and downplaying macroeconomic risks.