Executive Accountability: KangJyh Lee, President of PDMC and Photronics Director, Named in Securities Action Alleging Concealment of Design Release Pipeline Slowdown That Cost PLAB Investors $19.49 Per Share

NEW YORK, July 22, 2026 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors that KangJyh Lee, President of PDMC and a Director of Photronics, Inc. (NASDAQ: PLAB), is named as a defendant in a securities class action filed on behalf of shareholders who purchased PLAB securities between December 10, 2025 and May 27, 2026. Find out if you qualify to recover losses from the PLAB securities action. You may also contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or (212) 363-7500.

PLAB shares fell $19.49 per share, a decline of 36.42%, on May 28, 2026, after Photronics revealed that its anticipated post-Chinese New Year recovery in high-end IC design releases had stalled.

KangJyh Lee's Role During the Class Period

The complaint identifies Lee as a key participant in Photronics' public communications with investors during the Class Period. As President of PDMC and a Photronics Director, Lee participated directly in quarterly earnings calls where he provided detailed operational commentary about customer demand, competitive positioning, and capacity planning for the Company's high-end IC photomask business.

What Lee Allegedly Told Investors

During the December 10, 2025 earnings call, Lee stated that Photronics was seeing "a lot of" high-end opportunities and that the Company needed to "maximize" its Boise facility capacity, asserting that "the entry barrier for the newcomers to the high-end business is very high." On February 27, 2026, Lee characterized the post-Chinese New Year seasonal slowdown as temporary, stating that customer tape-out forecasts would "resume in the middle -- early of March" and that management did not "see major difference in the market environment."

The action contends these statements were misleading because:

• Lee participated in earnings calls on December 10, 2025 and February 27, 2026, providing specific operational assurances about high-end demand and competitive positioning
• Lee told investors the post-Chinese New Year slowdown was routine, asserting customer orders would resume by early March 2026
• Lee emphasized capacity constraints at Boise as evidence of demand strength while allegedly failing to acknowledge a slowdown in design release momentum at the customer level
• Lee stated that newcomer competition affected only mainstream products, reinforcing investor confidence in the Photronics' projected growth trajectory.
• On May 28, 2026, Lee admitted the slowdown "after Chinese [New Year] is much longer than we anticipate" and that the design release delays originated "at the very beginning of the new design release" at design houses

Lee's Alleged Liability Under Section 20(a)

The securities action names Lee as a controlling person of Photronics under Section 20(a) of the Exchange Act. As pleaded, Lee possessed the power and authority to control the contents of the Company's public statements and was provided with copies of reports and press releases prior to their issuance. Lee had the ability to prevent misleading statements or cause them to be corrected, and his direct participation in investor communications during the Class Period forms the basis for his alleged individual liability.

"Individual officers who sign SEC certifications bear personal responsibility for the accuracy of corporate disclosures. When executives provide specific operational assurances to investors on earnings calls, they must ensure those statements reflect the company's actual conditions," stated Joseph E. Levi, Esq.

Speak with an attorney about recovering your PLAB investment losses or call (212) 363-7500.

LEAD PLAINTIFF DEADLINE: September 4, 2026

ABOUT LEVI & KORSINSKY, LLP — Over the past 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders. The firm has extensive expertise in complex securities litigation and a team of over 70 employees. For seven consecutive years, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report. Investors who suffered losses have until September 4, 2026 to seek appointment as lead plaintiff. Attorney Advertising. Prior results do not guarantee similar outcomes.

Frequently Asked Questions About the PLAB Lawsuit

Q: Who are the defendants named in the PLAB lawsuit? A: The complaint names Photronics, Inc. and individual defendants including CEO George C. Macricostas, CFO/President Eric Rivera, and KangJyh Lee, President of PDMC and a Director of Photronics. Each is alleged to have controlled the contents of public statements and SEC filings during the Class Period.

Q: What is the PLAB lead plaintiff deadline? A: The deadline to apply for lead plaintiff appointment is September 4, 2026. This deadline applies only to investors seeking to serve as lead plaintiff. Class members who do not apply may still participate in any recovery without taking action before this date.

Q: What specific misstatements does the PLAB lawsuit allege? A: The complaint alleges Photronics made materially false or misleading statements regarding the strength of its high-end IC design release pipeline, the anticipated post-Chinese New Year recovery, and the stability of customer demand, while  allegedly concealing that design release momentum had slowed due to elevated fab utilization and geopolitical uncertainty.

Q: What if I already sold my PLAB shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still participate.

Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.

Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. You submit a claim form to receive your portion of recovery.

Q: How long will the lawsuit take to resolve? A: Securities class actions typically take two to four years from initial filing to resolution.

CONTACT:\

Levi & Korsinsky, LLP\

Joseph E. Levi, Esq.\

Ed Korsinsky, Esq.\

33 Whitehall Street, 27th Floor\

New York, NY 10004\

jlevi@levikorsinsky.com\

Tel: (212) 363-7500\

Fax: (212) 363-7171

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SOURCE Levi & Korsinsky, LLP