SHAREHOLDER ALERT: Levi & Korsinsky, LLP Reminds Investors of an Investigation Involving Possible Securities Fraud Violations by Certain Officers and Directors of ADTRAN, Inc.
NEW YORK, Sept. 13, 2019 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors that it has commenced an investigation of ADTRAN, Inc. (“ADTRAN” or “the Company”) (NASDAQ: ADTN) concerning possible violations of federal securities laws.
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. On this news, the price of ADTRAN fell over 23%, to close at $12.13 on July 18, 2019.
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.
To obtain additional information, go to:
https://www.zlk.com/pslra-1/adtran-inc-loss-form
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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