Law Offices of Howard G. Smith announces an investigation on behalf of Infinera Corporation (“Infinera” or the “Company”) (NASDAQ: INFN) investors concerning the Company’s possible violations of federal securities laws.
On February 29, 2024, Infinera disclosed that “the Company’s management concluded that, as of December 31, 2022, there were material weaknesses in its internal control over financial reporting related to its revenue cycle, inventory cycle, and with respect to these, its internal resources, expertise and policies required to maintain an effective control environment.”
Then, on March 6, 2024, Infinera disclosed that the Company’s Chief Legal Officer “will transition to an Advisor role reporting to the Company’s Chief Executive Officer” and “will no longer serve as an executive officer of the Company.”
On this news, Infinera’s stock price fell as much as 17% during intraday trading on March 7, 2024, thereby injuring investors.
If you purchased Infinera securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240307754949/en/
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
