NEW YORK, NY / ACCESSWIRE / October 4, 2022 / -- Lowey Dannenberg P.C. is investigating claims of violations of federal securities laws on behalf of investors of Comtech Telecommunications Corp. ("Comtech" or the "Company") (NASDAQ:CMTL).
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 "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.
If you suffered loss in Comtech and wish to participate, learn more, or discuss the issues surrounding the investigation, please contact our attorneys at (914) 733-7256 or via email at [email protected] or [email protected].
Whistleblowers: Persons with non-public information regarding Comtech should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.
SOURCE: Lowey Dannenberg