NEW YORK, May 28, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of ADTRAN Holdings, Inc. (“ADTRAN” or the “Company”) (NASDAQ: ADTN). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether ADTRAN and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On May 13, 2025, ADTRAN disclosed in a filing with the U.S. Securities and Exchange Commission that “the Company’s (i) audited consolidated financial statements as of and for the years ended December 31, 2024 (‘Fiscal 2024’) and December 31, 2023 (‘Fiscal 2023’) included in the Company’s Annual Report on Form 10-K filed with the SEC on March 3, 2025 (the ‘2024 Form 10-K’), and (ii) unaudited condensed financial statements as of and for the interim periods ended March 31, 2024, June 30, 2024 and September 30, 2024 (the ‘2024 Interim Periods’) included in the Company’s Quarterly Reports filed with the SEC on May 10, 2024, August 9, 2024, and November 12, 2024, respectively (such 2024 Interim Periods, collectively with Fiscal 2024 and Fiscal 2023, the ‘Non-Reliance Periods’), as well as the relevant portions of any communication which describe or are based on such financial statements, should no longer be relied upon” and would be restated. ADTRAN stated that “management is evaluating the impact of this matter on its internal control over financial reporting as of December 31, 2024 and has identified at least one additional material weakness.”
On this news, ADTRAN’s stock price fell $0.41 per share, or 4.79%, to close at $8.15 per share on May 14, 2025.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, London, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
