A Deadline is coming up on October 11, 2016in the lawsuit for investors in Orbital ATK Inc and NYSE:OA stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/19/2016 -- A deadline is coming up on October 11, 2016 in the lawsuit filed for investors of Orbital ATK Inc (NYSE:OA over alleged securities laws violations by Orbital ATK Inc.
Investors who purchased shares of Orbital ATK Inc (NYSE:OA) have certain options and there are strict and short deadlines running. Deadline: October 11, 2016. NYSE:OA stockholders should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
According to the complaint filed in the U.S. District Court for the Eastern District of Virginia the plaintiff alleges on behalf of purchasers of Orbital ATK Inc (NYSE:OA) common shares between June 1, 2015 and August 9, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between June 1, 2015 and August 9, 2016 the defendants made false and/or misleading statements and/or failed to disclose that Orbital ATK Inc lacked effective control over financial reporting, that as a result, the Company failed to record an anticipated loss on the Contract after the loss became evident in 2015, as required by generally accepted accounting principles, and that as a result of the foregoing, Orbital's public statements were materially false and misleading at all relevant times.
On August 10, 2016, Orbital ATK, Inc., formerly Alliant Techsystems Inc, announced that it expects to restate its financial statements for the fiscal year ended March 31, 2015 ("fiscal 2015"), the nine-month transition period ended December 31, 2015 ("2015 transition period"), the quarters in fiscal 2015 and the 2015 transition period, and the quarter ended April 3, 2016. The misstatements Orbital identified relate primarily to Orbital's $2.3 billion long-term contract with the U.S. Army to manufacture and supply small caliber ammunition at the U.S. Army's Lake City Army Ammunition Plant.
Shares of Orbital ATK Inc (NYSE:OA) declined on August 10, 2016 to as low as $67.04 per share.
Those who purchased shares of Orbital ATK Inc have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego