An investigation on behalf of investors in Cray Inc. (NASDAQ:CRAY) shares over potential wrongdoing at Cray Inc. was announced and NASDAQ:CRAY stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/19/2016 -- Certain directors of Cray Inc. are under investigation over potential wrongdoing. The investigation was announced on behalf of current long-term investors in NASDAQ:CRAY shares concerning potential breaches of fiduciary duties by certain directors at Cray Inc.
Investors who purchased shares of Cray Inc. (NASDAQ:CRAY) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm concerns whether certain Cray directors breached their fiduciary duties and caused damage to the company and its shareholders.
On February 22, 2016, Cray Inc. reported its full year and fourth quarter financial results. Cray Inc. reported that its annual Total Revenue rose from $561.61 million in 2014 to $724.69 million in 2015 and that its Net Income declined from $62.32 million to $27.54 million in 2015. Shares of Cray Inc. (NASDAQ:CRAY) grew from $19.31 per share in September 2015 to as high as $43.06 per share in March 2016.
On May 3, 2016, Cray Inc. reported its first quarter 2016 financial results and issued its outlook for 2016. Shares of Cray Inc. (NASDAQ:CRAY) declined from $39.93 per share on May 3, 2016, to as low as $28.75 per share on May 4, 2016.
On August 2, 2016, Cray Inc. reported its second quarter 2016 financial results and updated its 2016 outlook.
Shares of Cray Inc. (NASDAQ:CRAY) declined from $31.64 per share on August 2, 2016 to as low as $20.60 per share on August 5, 2016.
On September 16, 2016, NASDAQ:CRAY shares closed at $22.86 per share.
Those who purchased shares of Cray Inc. have certain options and should contact the Shareholders Foundation.
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