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Luna Innovations Reports That Certain Financial Statements Should No Longer Be Relied Upon And Will Be Restated - Investors Who Lost Money Encouraged To Contact Kehoe Law Firm, P.C. - LUNA
March 12, 2024 6:30 PM EDT | Source: Kehoe Law Firm, P.C.
Philadelphia, Pennsylvania--(Newsfile Corp. - March 12, 2024) - Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of Luna Innovations Incorporated ("Luna Innovations" or the "Company") (NASDAQ: LUNA)
INVESTORS OF LUNA INNOVATIONS STOCK WITH FINANCIAL LOSSES ARE ENCOURAGED TO CLICK HERE OR EMAIL INFO@KEHOELAWFIRM.COM TO CONTACT KEHOE LAW FIRM, P.C.
Luna Innovations reported that ". . . on March 12, 2024, the Audit Committee . . . of the Board . . . concluded that the Company's previously issued unaudited interim condensed consolidated financial statements for the quarters ended June 30, 2023, and September 30, 2023, as previously filed with the Securities and Exchange Commission . . . should no longer be relied upon and should be restated."
Luna Innovations also reported that ". . . the Company has identified material weaknesses in its internal control over financial reporting that existed as of June 30, 2023, and September 30, 2023, and has re-evaluated the effectiveness of the Company's disclosure controls and procedures as of those dates. Based on this assessment, the Company's disclosure controls and procedures were ineffective for the quarters ended June 30, 2023, and September 30, 2023."
On this news, shares of Luna Innovations stock traded down more than 16% in aftermarket trading on March 12, 2024.
LUNA INNOVATIONS INVESTORS WITH FINANCIAL LOSSES ARE ALSO ENCOURAGED TO CONTACT JOHN KEHOE, ESQ., (215) 792-6676, EXT. 801, JKEHOE@KEHOELAWFIRM.COM, OR MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, MYARNOFF@KEHOELAWFIRM.COM, INFO@KEHOELAWFIRM.COM, TO LEARN MORE ABOUT THE SECURITIES INVESTIGATION AND POTENTIAL LEGAL CLAIMS.
Kehoe Law Firm, P.C. is a multidisciplinary, plaintiff-side law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm, P.C. have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.
This press release may constitute attorney advertising.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/201480