NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. is investigating potential claims against ADTRAN, Inc. (NASDAQ: ADTN) on behalf of ADTRAN investors. Our investigation concerns whether ADTRAN has violated the federal securities laws and/or engaged in other unlawful business practices.
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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 declined by 23%, to close at $12.13 on July 18, 2019.
Then, 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.
If you purchased or otherwise acquired ADTRAN shares, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning our investigation into ADTRAN, please go to https://bespc.com/ADTN. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.