Wednesday, 18 September 2024 12:30 PM
Class Action
NEW YORK, NY / ACCESS Newswire / September 18, 2024 / Wolf Haldenstein Adler Freeman & Herz LLP ("Wolf Haldenstein"), a preeminent national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Aviat Networks, Inc. (NASDAQ:AVNW) ("Aviat" or the "Company").
Aviat Networks, Inc. provides microwave networking and wireless access networking solutions in North America, Africa, the Middle East, Europe, Latin America, and the Asia Pacific region.
The investigation focuses on whether the Company issued false and/or misleading statements and/or did not disclose information pertinent to investors.
PLEASE CLICK HERE TO PROVIDE YOUR CONTACT INFORMATION
Aviat Networks announced after market hours on September 11, 2024 that it would not be able to timely file its financial statements for the fiscal year that ended June 28, 2024. Prior to this disclosure, on May 28, 2024, the Company had abruptly announced the replacement of its CFO.
In the announcement, Aviat stated that it "requires additional time to finalize its assessment of internal control over financial reporting[;]," They went on to say that "[m]anagement has identified certain material weaknesses in its preliminary assessment of internal control over financial reporting[;]" and it "identified certain errors impacting previously reported financial information for the fiscal years 2024 and 2023."
In addition, Aviat held open the possibility that "revision or restatement of prior periods is required."
In response, the stock price tumbled from $24.36 to $20.99 on Thursday, September 12, a drop of almost 14%.
Wolf Haldenstein has experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas, and offices in New York, Chicago, Nashville, and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly lauded by the courts, which have appointed it to major positions in complex securities, multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at [email protected].
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
SOURCE: Wolf Haldenstein Adler Freeman & Herz LLP