Photronics falls after placing general counsel on leave

Photronics

13/06/2024 14:41

** Shares of Photronics Inc  PLAB.O  gap down early Thurs
after co puts general counsel on leave
    ** PLAB falls as much as 6.8% to $24.76. Stock last off 2.6%
at $25.86
    ** Semiconductor and related devices maker said in
regulatory filing late Weds that Richelle Burr, who is also
administrative officer and secretary, was placed on paid
administrative leave pending ongoing internal review
    ** Co said review related to certain transactions and other
matters, and that her functions will be performed by other
personnel and outside counsel during her absence
    ** Last month, co reported Q2 rev and earnings below LSEG
consensus
    ** With move on the session, PLAB down 17% YTD

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))