SAN DIEGO, April 30, 2024 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Luna Innovations Incorporated (NASDAQ: LUNA). Join the Luna class action lawsuit to potentially recover losses. Johnson Fistel LLP, a top law firm, can help you become the lead plaintiff.
The class action is on behalf of shareholders who purchased or otherwise acquired securities between August 11, 2023 and March 25, 2024. Investors have until May 31, 2024, to move the Court to serve as lead plaintiff in this action.
According to the lawsuit, defendants throughout the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) Luna Innovations' financial statements from August 10, 2023 to the present included false figures as a result of improper revenue recognition; (2) as a result, Luna Innovations would need to restate its previously filed financial statements from August 10, 2023 to November 14, 2023; (3) Luna Innovations lacked adequate internal controls; and (4) as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Join the class action suit as a potential lead plaintiff:
There is no cost or obligation to you.
Investor Action Steps: Shareholders who sustained financial losses during the designated class period, are entitled to petition the court, until May 31, 2024, to secure the position of a lead plaintiff in this proceeding. The lead plaintiff assumes the responsibility of representing the collective interests of all class members, guiding the direction of the class-action lawsuit. This pivotal role allows the lead plaintiff the autonomy to appoint a legal firm of their preference to pursue litigation in the class-action case. An investor's eligibility to partake in any prospective settlement of the class-action lawsuit is unrelated to their role as a lead plaintiff.
About Johnson Fistel, LLP | Top Law Firm, Securities Fraud, Investors Rights:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. We also extend our services to foreign investors who have purchased on US exchanges. Stay updated with news on stock drops and learn how Johnson Fistel, LLP can help you recover your losses. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.
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James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
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