SAN FRANCISCO, April 01, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges Luna Innovations Incorporated (NASDAQ:LUNA) investors who suffered substantial losses to submit your losses now.
Class Period: Aug. 11, 2023 – Mar. 25, 2024
Lead Plaintiff Deadline: May 31, 2024
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Luna Innovations Incorporated (LUNA) Securities Fraud Class Action:
The litigation focuses on the propriety of Luna's past financial statements and adherence to U.S. generally accepted accounting principles ("GAAP").
More specifically, the complaint alleges that Luna made misleading statements and failed to disclose that: (1) its financial statements from Aug. 10, 2023 to the present included false figures as a result of improper revenue recognition; (2) as a result, Luna would be required to restate financial statements filed during Aug. 10, 2023 through Nov. 14, 2023; and (3) it lacked adequate internal controls.
Investors began to learn the truth on Mar. 12, 2024, when Luna revealed that ...