Benzinga | Dec 22, 2021 09:05AM EST

Wrap Technologies Reports Dismissal Of Securities Class Action Complaint With Prejudice

Wrap Technologies, Inc. (NASDAQ:WRAP) (the "Company"), a global leader in innovative public safety technologies and services, today announced the dismissal of the consolidated amended complaint in the case captioned In re Wrap Technologies, Inc. Securities Exchange Act Litigation (the "Action"), filed in the United States District Court for the Central District of California (the "Court"). As reported by the Company on November 18, 2021, the Court granted Wrap's motion to dismiss, but provided the plaintiff with leave to amend the complaint by December 6, 2021. Plaintiff failed to do so, and by Court order dated December 20, 2021, the claims have been dismissed with prejudice.

Tom Smith, Wrap's Chief Executive Officer, commented, "We are pleased with the Court's decision to dismiss this meritless action. It's a clear rejection of the baseless allegations made regarding our company's management, products and performance. We will continue to advance our important mission of safer policing outcomes and execute on the growing fundamentals of our business as we move forward."