SAN FRANCISCO, March 25, 2020 (GLOBE NEWSWIRE) -- Hagens Berman urges investors in Bruker Corporation (BRKR) who have suffered significant losses to submit their losses now. The firm is investigating possible securities law violations, and certain investors may have valuable claims.
Bruker Corporation (BRKR) Investigation:
The investigation concerns whether Bruker’s accounting for income tax-related items in its financial statements conformed with GAAP.
More specifically, Bruker and senior management have repeatedly assured investors that the Company’s internal controls over financial reporting are effective.
But, on Feb. 18, 2020, after the market closed, Bruker revealed “[t]he Company’s Audit Committee of the Board of Directors has initiated an internal investigation into an allegation recently received in connection with the year-end close, primarily relating to income tax matters including the effective income tax rate for 2019 and the related income tax balance sheet accounts.”
Then, on Mar. 3, 2020, Bruker announced it would not timely file its year end 2019 financial report, blamed the internal investigation, and also revealed the assessment included the impact on financial reporting and internal controls, including disclosure controls and procedures.
These announcements have driven the price of Bruker shares sharply lower.
“We’re focused on investors’ losses and whether Bruker may have manipulated its reported GAAP and EBITDA metrics,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you purchased shares of Bruker and suffered significant losses, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Bruker should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email BRKR@hbsslaw.com.
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Reed Kathrein, 844-916-0895