Lost Money in Infinera? Gibbs Law Group Investigates Potential Securities Law Violations

OAKLAND, Calif.--(BUSINESS WIRE)--Shares of Infinera Corporation dropped over 11% on March 7, 2024, after the company found “material weaknesses” in its financial reporting—following an independent audit. Gibbs Law Group is investigating a potential Infinera Securities Class Action Lawsuit on behalf of shareholders who lost money in Infinera Corporation (NASDAQ: INFN).

What Should Infinera Investors Do?

If you invested in Infinera, visit our website by clicking here, or call us toll-free at [phone] to discuss how you may be able to recover your losses. Our investigation concerns whether Infinera Corporation has violated federal securities laws by providing false or misleading statements to investors.

What is the Infinera Securities Lawsuit Investigation About?

On February 29, 2024, Infinera filed an amended annual financial report which revealed that “as of December 31, 2022, there were material weaknesses in its internal control over financial reporting related to its revenue cycle, inventory cycle, and with respect to these, its internal resources, expertise and policies required to maintain an effective control environment.”

Then, on March 6, 2024, the company announced that its Chief Legal Officer “will no longer serve as an executive officer of the Company.”

Following this news, the stock plunged over 11% on March 7th, 2024, causing harm to investors.

About Gibbs Law Group

Gibbs Law Group represents investors throughout the country in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including “Best Lawyers in America,” “Top Plaintiff Lawyers in California,” “California Lawyer Attorney of the Year,” “Class Action Practice Group of the Year,” “Consumer Protection MVP,” and “Top Women Lawyers in California.”

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