World News: 01:03 GMT Tuesday 3rd December 2019. [Hagens Berman Sobol Shapiro LLP via Globe Newswire via SPi World News]
SAN FRANCISCO , Dec. 02, 2019 (GLOBE NEWSWIRE) -- Hagens Berman urges ADTRAN, Inc. investors who have suffered losses in excess of $50,000 to to learn if they qualify to recover compensable damages. The lead plaintiff deadline in a securities fraud class action pending against the company is approaching.
The Complaint alleges that on July 17, 2019, the Company announced “preliminary” earnings for second quarter 2019 due to its ongoing assessment of the reasonableness of its current and previously reported E&O reserves. On this news, the Company’s share price fell $3.69 per share, over 23%, to close at $12.13 per share on July 18, 2019, thereby injuring investors.
“We’re focused on investors’ losses and whether ADTRAN and senior executives intentionally misled investors by failing to timely write off unsalable inventory,” said Hagens Berman partner Reed Kathrein.
If you purchased shares of ADTN and suffered significant losses, .
Globe Newswire: 01:03 GMT Tuesday 3rd December 2019
SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2019. [Admin Only]
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 07519380.