NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP announced today an investigation on behalf of Ormat Technologies, Inc. (“Ormat” or the “Company”) (NYSE: ORA) investors concerning officers’ possible violations of federal securities laws.
On May 11, 2018, Ormat disclosed that the Company would delay the filing of its Quarterly Report for the period ended March 31, 2018, stating that “management has identified an error in the Company's financial statement presentation of deferred income tax assets and deferred income tax liabilities that affects the Company’s balance sheets in previous reporting periods.” Ormat further disclosed that “the Company is evaluating the impact of this error on its consolidated financial statements and the extent to which the Company’s annual and quarterly consolidated financial statements filed in previous periods require revision or amendment.”
On this news, Ormat’s share price fell from $56.19 to close at $52.77 on May 14, 2018 (a decline of $3.42 or 6.09%).
If you purchased or otherwise acquired Ormat securities, have information or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at email@example.com, or by filling out this contact form to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.
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