INVESTOR ALERT: Investigation of Orbital ATK, Inc. Announced by Law Offices of Howard G. Smith
August 10 2016 - 11:21AM
Business Wire
Law Offices of Howard G. Smith announces an investigation
on behalf of investors of Orbital ATK, Inc. ("Orbital" or the
"Company") (NYSE: OA). The investigation concerns whether the
Company’s and its officers potentially violated securities laws by
misleading investors regarding losses associated with certain
government contracts.
On August 10, 2016, the Company announced the need to restate
prior financial statements relating to a long term government
contract. Orbital reported issues relating to, “its $2.3 billion
long-term contract (the “Contract”) with the U.S. Army to
manufacture and supply small caliber ammunition at the U.S. Army’s
Lake City Army Ammunition Plant.” According to Orbital, the
restatement will likely reduce pre-tax operating income by $400
million to $450 million, and reduce 2015 annual revenues by $100
million to $150 million.
As a result of the Company’s statement, Orbital’s shares fell by
over $16.53 per share, or over 18%, during intraday trading on
August 10, 2016.
If you purchased Orbital securities, have information or would
like to learn more about these claims, or have any questions
concerning this announcement or your rights or interests with
respect to these matters, please contact Howard G. Smith, Esquire,
of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847,
toll-free at (888) 638-4847, or by email
to howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.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: http://www.businesswire.com/news/home/20160810005787/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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