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 shares announced by Shareholders Foundation - EconoTimes)
SAN DIEGO, March 28, 2018 -- The Shareholders Foundation, Inc. announces that a deadline is coming up on April 16, 2018 in the lawsuit that was filed for certain investors in NYSE: QTM shares over alleged Securities Laws Violations by Quantum Corp.
Investors who purchased shares of Quantum Corp (NYSE:QTM) have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554.
On February 13, 2018, a lawsuit was filed against Quantum Corp over alleged securities laws violations. The plaintiff alleges that Quantum Corp was inappropriately recognizing certain revenues since at least April 2016, that Quantum Corp lacked adequate controls over accounting and financial reporting, that as a result Quantum Corp was subject to increased regulatory scrutiny and potential fines, and that, as a result of the foregoing, Defendants’ statements about Quantum’ business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.
On February 8, 2018, Quantum Corp announced that it received a subpoena from the Securities and Exchange Commission (“SEC”) on January 11, 2018 regarding its accounting practices and internal controls related to revenue recognition for transactions commencing April 1, 2016. Quantum Corp further stated it was postponing the release of its fiscal third quarter 2018 results and earnings conference call so that its audit committee could complete an investigation into Quantum’s accounting matters and related internal controls.
Those who purchased Quantum Corp (NYSE:QTM) shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
[email protected]
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
