Law Offices of Howard G. Smith announces an investigation on behalf of Luna Innovations Incorporated (“Luna” or the “Company”) (NASDAQ: LUNA) investors concerning the Company’s possible violations of federal securities laws.
On March 12, 2024, Luna disclosed that “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,” and that the Company’s previously issued financial statements for those quarters should no longer be relied upon. Additionally, Luna stated that it has identified material weaknesses in its internal control over financial reporting, and it would be delaying the release of its fourth quarter and full year 2024 financial results.
On this news, Luna’s stock price fell as much as 40% during intraday trading on March 13, 2024, thereby injuring investors.
If you purchased Luna securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
