Cases
Orbital ATK, Inc.
Securities Class Action
Overview
Overview
- Date:
- 8/9/2016
- Company Name:
- Orbital ATK, Inc.
- Stock Symbol:
- OA
- Status:
- Closed/Complete
NEW YORK, August 9, 2016 – Bragar Eagel & Squire, P.C. is investigating potential claims on behalf of Orbital ATK, Inc. (NYSE: OA) investors concerning whether the company’s officers and board of directors violated the federal securities laws.
On August 10, 2016, the Company announced the need to restate its financial statements for fiscal year 2015, the nine-month period ended December 31, 2015, and the quarter ended April 3, 2016. The restatement relates to Orbital’s “$2.3 billion long-term contract with the U.S. Army to manufacture and supply small caliber ammunition at the U.S. Army’s Lake City Army Ammunition Plant.” According to Orbital, the restatement will likely reduce pre-tax operating income by $400 million to $450 million, and reduce 2015 revenues by $100 million to $150 million.
On this news, Orbital shares fell $17.98 per share, over 20%, to close at $70.79 on August 10, 2016.
If you purchased Orbital 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 Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
On August 10, 2016, the Company announced the need to restate its financial statements for fiscal year 2015, the nine-month period ended December 31, 2015, and the quarter ended April 3, 2016. The restatement relates to Orbital’s “$2.3 billion long-term contract with the U.S. Army to manufacture and supply small caliber ammunition at the U.S. Army’s Lake City Army Ammunition Plant.” According to Orbital, the restatement will likely reduce pre-tax operating income by $400 million to $450 million, and reduce 2015 revenues by $100 million to $150 million.
On this news, Orbital shares fell $17.98 per share, over 20%, to close at $70.79 on August 10, 2016.
If you purchased Orbital 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 Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.