Bronstein, Gewirtz & Grossman, LLC Announces Investigation of ADTRAN, Inc. (ADTN)
NEW YORK, NY / ACCESSWIRE / October 23, 2019 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of ADTRAN, Inc. ("ADTRAN" or the "Company") (ADTN). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/adtn.
The investigation concerns whether ADTRAN and certain of its officers and/or directors have violated federal securities laws.
On July 17, 2019, ADTRAN announced "preliminary" earnings for second quarter 2019 due to its ongoing assessment of the reasonableness of its current and previously reported excess and obsolete inventory reserves. On this news, ADTRAN's stock price fell $3.69 per share, or more than 23%, to close at $12.13 per share on July 18, 2019. Then, on October 9, 2019, ADTRAN announced that its "revenue this quarter has been significantly impacted by a pause in shipments to a Tier 1 customer in Latin America and the continued slowdown in the spending at an international Tier 1 customer." On this news, ADTRAN's stock price fell $2.10 per share, or more than 19%, to close at $8.81 per share on October 10, 2019.
If you are aware of any facts relating to this investigation, or purchased ADTRAN shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/adtn. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
View source version on accesswire.com:
https://www.accesswire.com/563965/Bronstein-Gewirtz-Grossman-LLC-Announces-Investigation-of-ADTRAN-Inc-ADTN
