Ammo says investigating possible data breach by execs, shares fall

Outdoor Holding

06/09/2022 16:31

** GunBroker.com owner Ammo Inc's shares  POWW.O  down 3% at
$3.55 - lowest since May 12
    ** Co says Steven Urvan, chief strategy officer, and Susan
Lokey, chief financial officer of its unit SpeedLight I LLC,
have been placed on administrative leave with immediate effect
 urn:newsml:reuters.com:*:nGNX2rxT3X
    ** Ammo says it has reason to believe that both individuals
may have misappropriated its data and digital assets and
transmitted that data to a third-party
    ** Co says it started internal investigation into alleged
misconduct several weeks ago
    ** Says special committee formed by board of directors
decided to place the executives on leave to prevent access to
systems and data while the investigation is underway
    ** Stock had fallen ~34%, compared with a 22.39% decline in
the Nasdaq Industrial index  .IXID  YTD

 (Reporting by Johann M Cherian in Bengaluru)
 ((johann.mcherian@thomsonreuters.com;))