IRVINE, CA / ACCESSWIRE / July 9, 2016 / Khang & Khang LLP (the "Firm") announces that a class action lawsuit has been filed against Ability Inc. ("Ability" or the "Company") (NASDAQ: ABIL). Investors who purchased or otherwise acquired shares between September 8, 2015 and April 29, 2016 inclusive (the "Class Period"), are encouraged to contact the Firm prior to the July 25, 2016 lead plaintiff motion deadline.
If you purchased shares of Ability during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at [email protected].
There has been no class certification in this case. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive 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.
If you wish to learn more about this lawsuit, or if you have any questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or by e-mail at [email protected].
This press release may constitute Attorney Advertising in some jurisdictions.
CONTACT:
Joon M. Khang, Esq.
Telephone: 949-419-3834
Facsimile: 949-225-4474
[email protected]
SOURCE: Khang & Khang LLP