CMTL - Comtech Telecommunications (CMTL) Tanks After Revealing Liquidity Concerns Firing CEO For Cause Reporting Disastrous Q2 2024 Results – Hagens Berman | Benzinga

SAN FRANCISCO, March 28, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges Comtech Telecommunications Corp. (NASDAQ:CMTL) investors who suffered substantial losses to submit your losses now.

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Comtech Telecommunications Corp. (CMTL) Investigation:

Shares in Comtech are trading down more than 70% since early Dec. 2023 after the Melville, New York-based telecommunications company has revealed a series of disappointing news, causing the company's stock to plummet and prompting leading investor rights firm Hagens Berman to open an investigation into possible violations of the U.S. securities laws.

Over the past year, Comtech CEO Ken Peterman repeatedly touted the "One Comtech" strategy implemented under his leadership, which unified the company's 14 independent, siloed businesses and reportedly spurred Comtech to posting five consecutive quarters of revenue growth.

But cracks in the Company's façade of success began to emerge on Dec. 7, 2023, when the company disclosed a "going concern" that its cash flow will be enough to fund operations over ...

CMTL) Tanks After Revealing Liquidity Concerns, Firing CEO For Cause, Reporting Disastrous Q2 2024 Results – Hagens Berman>Full story available on Benzinga.com