San Diego, CA -- (SBWIRE) -- 08/08/2012 -- An investigation on behalf of investors of Cubic Corporation (NYSE:CUB) shares over potential securities laws violations by Cubic Corporation and certain of its directors and in connection with certain statements was announced.
Investors who purchased shares of Cubic Corporation (NYSE:CUB), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Cubic Corporation (NYSE:CUB) concerning whether a series of statements by Cubic Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Cubic Corporation (NYSE:CUB) reported that its Total Revenue rose from $881.13million for the 12months period that ended on Sept. 30, 2008, to $1.28billion for the 12months period that ended on Sept. 30, 2011 and its Net Income increased over the respective time periods from $36.85million to $84.77million.
Shares of Cubic Corporation (NYSE:CUB) grew from as low as $20.75 per share in November 2008 to as high as $57.42 per share in April 2011.
On August 1, 2012, Cubic Corporation announced that the Audit Committee of the Board of Directors of Cubic Corporation, after consultation with Ernst & Young LLP, the company's independent registered public accounting firm, determined that Cubic's financial statements for the fiscal years ended September 30, 2011, 2010 and 2009, the quarters ended March 31, 2012 and December 31, 2011, and each of the prior quarters of 2011 and 2010 can no longer be relied upon as being in compliance with generally accepted accounting principles. Cubic Corporation said it will restate such financial statements.
Shares of Cubic Corporation (NYSE:CUB) closed on August 2, 2012, at $48.01 per share.
Those who purchased shares of Cubic Corporation (NYSE:CUB) and currently hold those Cubic Corporation shares, may have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego