NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky announces it has commenced an investigation of Zebra Technologies Corporation (“Zebra Technologies” or the “Company”) (NASDAQ:ZBRA) concerning possible violations of federal securities laws.
On May 10, 2016, Zebra announced disappointing financial results for its first quarter of 2016, stating that “first quarter results [were] below . . . expectations, with lower sales and earnings reflecting the continuation of a cautious enterprise spending environment.” On the same day, Zebra filed its quarterly report on Form 10-Q with the SEC for the first quarter of 2016, confirming that Zebra had found defects in its internal controls in 2015 which had impaired its ability to accurately forecast its pretax income and deferred taxes. On this news, the price of Zebra stock dropped more than $11 per share, from a close of $62.58 per share on May 9, 2016 to close at $51.46 per share on May 10, 2016, a one-day decline of approximately 18 percent. To obtain additional information, go to:
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