NEW YORK, NY / ACCESSWIRE / November 5, 2022 / Pomerantz LLP is investigating claims on behalf of investors in Comtech Telecommunications Corp. (“Comtech” or the “Company”) (NASDAQ: CMTL). Those investors are advised to contact Robert S. Willoughby at [email protected]or 888-476-6529, extension 7980.
The investigation concerns whether Comtech and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.
[Click here for information about joining the class action]
On June 8, 2021, Comtech reported its results of operations for the third fiscal quarter ended April 30, 2021 and updated its financial guidance for fiscal 2021. Among other things, Comtech announced that it expects consolidated net sales for fiscal 2021 to be in the range of 580 to 590 million dollars and stated that “the updated target primarily reflects a change in expected revenue in the Governmental Solutions segment due to the April 2021 US government announcement of a full withdrawal of troops from Afghanistan, as well as other program changes.”
As a result of this news, Comtech’s stock price fell $3.53 per share, or 13.76%, to close at $22.13 per share on June 9, 2021.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Bar Association, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches and corporate wrongdoing. The firm has recovered numerous multi-million dollar claims on behalf of group members. See www.pomlaw.com.
SOURCE: Pomerantz LLP
source_link https://www.digitaljournal.com/pr/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-comtech-telecommunications-corp-cmtl-2
