An investigation for investors in NASDAQ:ORBK shares over potential securities laws violations by Orbotech Ltd was announced and NASDAQ:ORBK stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/12/2017 -- Orbotech Ltd is under investigation over potential securities laws violations. The investigation was announced for on behalf of investors of Orbotech Ltd in connection with certain financial statements.
Investors who purchased shares of Orbotech Ltd (NASDAQ:ORBK), 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 focuses on possible claims on behalf of purchasers of the securities of Orbotech Ltd (NASDAQ:ORBK) concerning whether a series of statements by Orbotech Ltd regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Orbotech Ltd reported that its annual Total Revenue rose from $752.52 million in 2015 to $806.40 million in 2016 and that its Net Income increased from $56.77 million in 2015 to $79.44 million in 2016. Shares of Orbotech Ltd (NASDAQ:ORBK) grew from $15.04 per share in October 2015 to as high as $37.48 per share on May 16, 2017.
On May 22, 2017, Orbotech Ltd filed a Form with the Securities and Exchange Commission ("SEC") disclosing that the Israel Tax Authority conducted an investigation on May 22, 2017, involving "document collection at the Company's headquarters in Israel and at the office of the Company's tax consultant." The Form further states that "the criminal investigation relates to tax positions taken by the Company in the audit period as well as in prior periods." In addition, several Orbotech Ltd employees, as well as tax consultants from the Company's independent registered accounting firm are being questioned in connection with the investigation.
Shares of Orbotech Ltd (NASDAQ:ORBK) declined on May 22, 2017 to $30.27 per share.
On June 9, 2017, NASDAQ:ORBK shares closed at $35.20 per share.
Those who purchased shares of Orbotech Ltd have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego