SAN FRANCISCO, May 02, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges Luna Innovations Incorporated (NASDAQ:LUNA) investors who suffered substantial losses to submit your losses now.
Current Class Period: Aug. 11, 2023 – Mar. 25, 2024
Lead Plaintiff Deadline: May 31, 2024
Visit: www.hbsslaw.com/investor-fraud/LUNA
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Luna Innovations Incorporated (LUNA) Securities Fraud Class Action:
Luna Innovations, the Roanoke-based fiber optics company, is in freefall. A cascade of leadership exits, an investor class-action lawsuit, and the ongoing fallout from accounting errors have left the company reeling and shocked its investors.
Executive Exodus Raises Questions
On May 1, 2024, just after the market closed, Luna announced the abrupt departures of both its Chief Technology Officer, Brian Soller, and its Chief Financial Officer, George Gomez-Quintero. Soller's termination was deemed "for cause," while Gomez-Quintero resigned without a severance package.
These departures follow the mysterious exit of CEO Scott Graeff in March, whose separation agreement now faces potential clawbacks due to alleged misconduct. Additionally, seven other Luna employees have been fired.
Accounting Errors Cast Doubt on Past Performance
The source of much of ...