Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a securities class action lawsuit has been filed in the United States District Court for the Northern District of California against Quantum Corporation

Lead Plaintiff Deadline is April 16, 2018

NEW YORK, Feb. 28, 2018 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Northern District of California against Quantum Corporation (“Quantum” or the “Company”) (NYSE:QTM) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Quantum securities between May 10, 2016 and February 7, 2018 (“Class Period”), both dates inclusive.

Investors who have incurred losses in shares of Quantum Corporation are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.

If you have incurred losses in the shares of Quantum Corporation and would like to assist with the litigation process as a lead plaintiff, you may, no later than April 16, 2018, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Quantum Corporation.

The Complaint alleges the Company made materially false and/or misleading statements and/or failed to disclose that:

• Quantum had inappropriately recognized certain revenues going back to at least April 1, 2016;
  
  
• the Company lacked adequate internal controls over financial reporting; and
  
  
• that as a result the Company was subject to increased regulatory scrutiny and potential fines; and
  
  
• consequently,  Defendants' statements about Quantum's business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.

On February 8, 2018, prior to the opening of trading, the Company revealed that it was postponing the release of its Q3 2018 results due to an ongoing internal investigation by its audit committee stemming from a subpoena received on January 11, 2018 from the Securities and Exchange Commission (SEC) relating to the Company's "accounting practices and internal controls related to revenue recognition for transactions commencing April 1, 2016."

On this news, the price of Quantum's shares plummeted nearly 30%, to close at $3.90 per share on February 8, 2018.

Wolf Haldenstein Adler Freeman & Herz LLP  has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

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Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

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