INVESTOR ALERT: Kirby McInerney LLP Announces an Investigation of Shareholder Claims Against ADTRAN, Inc.
August 23 2019 - 8:00PM
Business Wire
The law firm of Kirby McInerney LLP is investigating potential
claims against ADTRAN, Inc. (“ADTRAN” or the “Company”) (NASDAQ:
ADTN). This investigation concerns whether ADTRAN has violated
federal securities laws and/or engaged in other unlawful business
practices.
On July 17, 2019, ADTRAN announced “preliminary” earnings for
the second quarter of 2019 due to the Company’s assessment of its
current and previously reported E&O reserves. This caused the
price of ADTRAN shares to decline by more than 23% on the next
trading day.
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 acquired ADTRAN securities, have information, or would
like to learn more about these claims, please contact Thomas W.
Elrod of Kirby McInerney LLP at 212-371-6600, by email at
investigations@kmllp.com, or by filling out this contact form, to
discuss your rights or interests with respect to these matters
without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm
concentrating in securities, antitrust, and whistleblower
litigation. The firm’s efforts on behalf of shareholders in
securities litigation have resulted in recoveries totaling billions
of dollars. Additional information about the firm can be found at
Kirby McInerney LLP’s website: www.kmllp.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: https://www.businesswire.com/news/home/20190823005366/en/
Kirby McInerney LLP Thomas W. Elrod, Esq., (212) 371-6600
investigations@kmllp.com www.kmllp.com
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