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LOS ANGELES, CA / ACCESSWIRE / May 16, 2024 /Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of Comtech Telecommunications Corp. (“Comtech” or “the Company”) (NASDAQ: CMTL) for violations of securities laws.
The investigation focuses on whether the company made false and/or misleading statements and/or failed to disclose pertinent information to investors. Comtech reported its financial effects for the third quarter of 2021 and updated its guidance for fiscal 2021 on June 8, 2021. The company’s guidance for fiscal 2021 included consolidated net sales at a diversity of $580 million to $590 million, explaining that its “updated guidance primarily reflects an increase in expected earnings in its Government Solutions segment due to the U. S. government’s announcement that it will be able to achieve a significant increase in earnings. “The U. S. government in April 2021. de the complete withdrawal of troops from Afghanistan, as well as other program replacements. According to this news, Comtech shares fell by more than 13. 7% on June 9, 2021.
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SOURCE: The Schall Law Firm