NEW YORK, Aug. 11, 2016 /PRNewswire/ -- Faruqi &
Faruqi, LLP, a leading national securities law firm, is
investigating potential misconduct at Orbital ATK Inc. ("Orbital"
or the "Company") (NYSE: OA).
The investigation focuses on whether the Company's Board of
Directors and/or its officers committed mismanagement and breached
their fiduciary duties by failing to maintain an effective system
of internal controls. On August 10,
2016, the Company filed a current report on Form 8-K with
the SEC announcing that on August 8,
2016, the Audit Committee of the Board of Directors of
Orbital concluded that the Company's previously issued financial
statements for the fiscal year ended March 31, 2015, the
nine-month transition period ended December 31, 2015, the
quarters in fiscal 2015 and the 2015 transition period, and the
quarter ended April 3, 2016, and related reports of
independent registered public accounting firms thereon, should no
longer be relied upon.
Additionally, the Company stated that it is "still evaluating
whether financial statements for annual and quarterly periods prior
to fiscal 2015 can continue to be relied upon." The Company
stated that the misstatements relate primarily to its $2.3 billion long-term contract with the U.S.
Army to manufacture and supply small caliber ammunition at the U.S.
Army's Lake City Army Ammunition Plant. As a result of the
foregoing, on August 10, 2016,
Orbital filed a Form NT 10-Q with the SEC stating that it is unable
to file its Quarterly Report on Form 10-Q for the period ended
July 3, 2016 within the prescribed
time period.
Request more information now by clicking here:
www.faruqilaw.com/OA. There is no cost or obligation to
you.
Take Action
If you currently own Orbital stock and would like to discuss
your legal rights, please visit www.faruqilaw.com/OA. You can also
contact us by calling Stuart Guber
toll free at (215) 277-5770 or by sending an e-mail to
sguber@faruqilaw.com. Faruqi & Faruqi, LLP also encourages
anyone with information regarding Orbital's conduct to contact the
firm, including whistleblowers, former employees, shareholders and
others.
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FARUQI & FARUQI, LLP
685 3rd Avenue, 26th Floor
New York, NY 10017
Attn: Stuart Guber
sguber@faruqilaw.com
Telephone: (215) 277-5770
Attn: Nina Varindani
nvarindani@faruqilaw.com
Telephone: (212) 983-9330
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