| PR Newswire

RM LAW Announces Investigation of ADTRAN, Inc.

BERWYN, Pa., Oct. 11, 2019 /PRNewswire/ -- RM LAW, P.C. announces an investigation on behalf of ADTRAN, Inc. ("ADTRAN" or the "Company") (NASDAQ: ADTN) investors concerning the Company and its officers' possible violations of federal securities laws.

If you purchased shares of ADTRAN and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.

On July 17, 2019, the Company 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 ("E&O reserves").

On this news, the Company's share price fell $3.69 per share, over 23%, to close at $12.13 per share on July 18, 2019, thereby injuring investors.

Then, on August 12, 2019, the Company disclosed that it would be unable to timely file its quarterly financial report with the SEC. Moreover, the Company disclosed that certain material weaknesses in its internal control resulted in a misstatement of previously reported E&O reserves.

Then, on September 20, 2019, the Company filed its quarterly report for the period ended June 30, 2019 with the SEC and disclosed a $0.8 million out-of-period adjustment, which increased its E&O reserves for the period.

For more information regarding this, please contact RM LAW, P.C. (Richard A. Maniskas, Esquire) toll-free at (844) 291-9299 or by email at rm@maniskas.com or click here. For more information about class action cases in general or to learn more about RM LAW, P.C. please visit our website by clicking here.

RM LAW, P.C. is a national shareholder litigation firm. RM LAW, P.C. is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.

CONTACT:

RM LAW, P.C.


Richard A. Maniskas, Esquire


1055 Westlakes Dr., Ste. 300


Berwyn, PA 19312


484-324-6800


844-291-9299


rm@maniskas.com

SOURCE RM LAW, P.C.

Related Links

http://www.rmclasslaw.com

Comments

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StockNewsWires @StockNewsWires - 9 hours ago
$COMM $ERIC $ADTN $T $CTL: Telecom Stock Roundup: AT&T to Divest Assets, Ericsson’s Rural Support & More: https://t.co/U9KVdlLsaZ
dailypoliticaln-profile-image
Daily Political @dailypoliticaln - 13 hours ago
Zacks Investment Research Lowers ADTRAN $ADTN to Hold https://t.co/PWW2z1DCYx
ZolmaxNews-profile-image
Zolmax News @ZolmaxNews - 13 hours ago
ADTRAN $ADTN Stock Rating Lowered by Zacks Investment Research https://t.co/6uuTgX3Ezp
ZolmaxNews-profile-image
Zolmax News @ZolmaxNews - 13 hours ago
ADTRAN $ADTN Rating Lowered to Strong Sell at BidaskClub https://t.co/7wOiLhB87D
dailypoliticaln-profile-image
Daily Political @dailypoliticaln - 13 hours ago
ADTRAN $ADTN Rating Lowered to Strong Sell at BidaskClub https://t.co/ebDJfKzh9Q
Tickeron-profile-image
Tickeron @Tickeron - 17 hours ago
$ADTN in Uptrend: RSI indicator exits oversold zone. View odds for this and other indicators:… https://t.co/ODsGccdKJU
OlympiaReport-profile-image
TheOlympiaReport @OlympiaReport - a day ago
Analysts Anticipate ADTRAN, Inc. $ADTN Will Post Earnings of -$0.02 Per Share https://t.co/hCeSZPGKWS
WeekHerald-profile-image
Week Herald @WeekHerald - a day ago
ADTRAN, Inc. $ADTN Expected to Announce Earnings of -$0.02 Per Share https://t.co/SUlsk8n8Nb
ThisLincolnian-profile-image
The Lincolnian @ThisLincolnian - a day ago
$126.65 Million in Sales Expected for ADTRAN, Inc. $ADTN This Quarter https://t.co/mfoyGfAxGZ