LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation on behalf of Exela Technologies, Inc. ("Exela" or "the Company") (NASDAQ: XELA) investors concerning the Company and its officers’ possible violations of federal securities laws.
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On March 16, 2020, Exela postponed its earnings release and conference call due to a delayed filing of the Company's fiscal 2019 annual report.
On this news, the Company's share price fell $0.0154 per share, or over 8%, to close at $0.17 per share on March 17, 2020, thereby injuring investors.
Then, on March 17, 2020, Exela disclosed “that it will restate its financial statements for the years ended December 31, 2017 and 2018 and the interim periods through September 30, 2019" to correct certain historical accounting errors.
On this news, the Company's share price fell $0.025 per share, or nearly 15%, to close at $0.145 per share on March 18, 2020, thereby injuring investors further.
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If you purchased Exela securities, have information or 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to email@example.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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