LOS ANGELES, CA / ACCESSWIRE / July 8, 2016 / Lundin Law PC (the "Firm") announces a class action lawsuit has been filed against Ability, Inc. ("Ability" or the "Company") (Nasdaq: ABIL) concerning possible violations of federal securities laws between September 8, 2015 and April 29, 2016 (the "Class Period"). Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm in advance of the July 25, 2016 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here to participate. You can also call Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or e-mail him at [email protected].
No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the complaint, the Company issued false and misleading statements to investors and/or failed to disclose that: Ability overstated its income by not accounting for commissions; Ability materially overstated its operating results by improperly recognizing revenue on multiple element sales transactions; the Company has material weaknesses in its internal controls; and as a result of the above, the Company's financial statements for the years ending December 31, 2013 and 2014 were materially false and misleading, and not prepared in accordance with U.S. Generally Accepted Accounting Principles.
Lundin Law PC was created by Brian Lundin, a securities litigator based in Los Angeles.
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Contact:
Lundin Law PC
Brian Lundin, Esq.
Telephone: 888-713-1033
Facsimile: 888-713-1125
[email protected]
http://lundinlawpc.com/
SOURCE: Lundin Law PC