NEW YORK, NY / ACCESSWIRE / August 14, 2022 / Pomerantz LLP is investigating claims on behalf of investors of Comtech Telecommunications Corp. (""Comtech" or the "Company") (NASDAQ: CMTL). Such investors are advised to contact Robert S. Willoughby at [email protected]or 888-476-6529, ext. 7980.
The investigation concerns whether Comtech and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On June 8, 2021, Comtech reported its operating results for the third fiscal quarter ended April 30, 2021 and updated its financial targets for fiscal 2021. Among other items, Comtech reported that it expected fiscal 2021 consolidated net sales to be in the range of $580 million to $590 million and explained that the "updated target primarily reflects a change in anticipated revenues in its Governmental Solutions segment due to the U.S. government's April 2021 announcement to fully withdraw troops from Afghanistan as well as other program changes."
On this news, Comtech's stock price fell $3.53 per share, or 13.76%, to close at $22.13 per share on June 9, 2021.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com
SOURCE: Pomerantz LLP.