NEW YORK, Aug. 15, 2016 /PRNewswire/ -- Attorney
Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds
investors that a class action lawsuit has been filed against
Orbital ATK ("Orbital" or the "Company") (NYSE: OA) and certain of
its officers. The class action was filed in the United States
District Court, Eastern District of Virginia and is on behalf of a class
consisting of all persons or entities who purchased Orbital
securities between June 1, 2015
through August 9, 2016, both dates
inclusive (the "Class Period").
This class action seeks to recover damages against Defendants
for alleged violations of the federal securities laws under the
Securities Exchange Act of 1934 (the "Exchange Act").
Orbital ATK Inc. is an American aerospace manufacturer and
defense industry company. It was formed in 2015 from the merger of
Orbital Sciences Corporation and parts of Alliant Techsystems.
The Complaint alleges that throughout the Class Period,
Defendants made materially false and/or misleading statements, and
failed to disclose material adverse facts about Orbital's business,
operations, and prospects. Specifically, Defendants made false
and/or misleading statements and/or failed to disclose that: (1)
Orbital did not have proper control over financial reporting; (2)
therefore, Orbital failed to record its projected loss on the
Contract after the loss became evident in 2015; and (3)
consequentially, Orbital's public statements were materially false
and misleading at all relevant times.
On August 10, 2016, pre-market,
Orbital released that due to accounting issues, it would delay and
miss its filing deadline for its most recent quarter and restate
more than a year worth of results. Orbital also said that its
results from the quarters ended June 29,
2014 through April 3, 2016
"should no longer be relied upon," that it would postpone its most
recent quarterly report and that the issues "indicate the existence
of one or more material weaknesses in its internal control over
financial reporting." Following this news, Orbital stock
dropped as much as $17.98 per share,
or 20.25%, to close at $70.79 on
August 10, 2016.
A class action lawsuit has already been filed. If you wish to
review a copy of the Complaint you can visit the firm's site:
http://www.bgandg.com/oa or you may contact Peretz Bronstein, Esq. or his Investor Relations
Analyst, Yael Hurwitz of Bronstein,
Gewirtz & Grossman, LLC at 212-697-6484 or via email
info@bgandg.com. Those who inquire by e-mail are encouraged to
include their mailing address and telephone number. If you
suffered a loss in Orbital you have until October 11, 2016 to request that the Court
appoint you as lead plaintiff. Your ability to share in any
recovery doesn't require that you serve as a lead plaintiff.
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 | info@bgandg.com
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SOURCE Bronstein, Gewirtz & Grossman, LLC