Sep 28, 2023
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INVESTOR ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Luna
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Significant Losses In Luna To Contact Him Directly To Discuss Their Options
March 14, 2024 2:46 PM EDT | Source: Faruqi & Faruqi LLP
New York, New York--(Newsfile Corp. - March 14, 2024) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Luna Innovations Incorporated ("Luna" or the "Company") (NASDAQ: LUNA).
If you suffered significant losses in Luna stock or options and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/LUNA.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
On March 12, 2024, Luna announced it will delay the release of its fourth quarter and fiscal year 2023 financial results. A Special Committee of the Company's Board of Directors is conducting an independent review, with the aid of external legal and financial advisors, of certain transactions for which revenue was recognized in the second and third quarters of 2023 that did not qualify for revenue recognition under U.S. generally accepted accounting principles. Additionally, the Company expects to report material weaknesses in internal controls.
To be noted, on October 17, 2023, Luna announced that its Chief Financial Officer (Eugene Nestro) abruptly left his position; no explanation for Nestro's departure was given at the time.
Following the delayed filing news, Luna stock was 23% lower in pre-market trading on March 13, 2024.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/201761