NEW YORK, NY / ACCESSWIRE / August 29, 2019 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of ADTRAN, Inc. (“ADTRAN” or the “Company”) (NASDAQ:ADTN). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: www.bgandg.com/adtn.
The investigation concerns whether ADTRAN and certain of its officers and/or directors have violated federal securities laws.
On July 17, 2019, ADTRAN announced “preliminary” earnings for the 2nd quarter of 2019 due to the company’s assessment of its current and previously reported E&O reserves. On this news, the price of ADTRAN declined by 23%, to close at $12.13 on July 18, 2019.
Then, on August 12, 2019, ADTRAN disclosed its inability to timely file its quarterly financial report with the SEC, admitting to material weaknesses in its internal controls, resulting in a misstatement of the Company’s previously reported E&O reserves.
If you are aware of any facts relating to this investigation, or purchased ADTRAN shares, you can assist this investigation by visiting the firm’s site: www.bgandg.com/adtn. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC