Kahn Swick & Foti, LLC (“KSF”) and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until October 11, 2016 to file lead plaintiff applications in a securities class action lawsuit against Orbital ATK, Inc. (NYSE: OA), if they purchased the Company’s securities between June 1, 2015 and August 9, 2016, inclusive (the “Class Period”). This action is pending in the United States District Court for the Eastern District of Virginia.
What You May Do
If you purchased shares of Orbital and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by October 11, 2016.
About the Lawsuit
Orbital and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On August 10, 2016, Orbital disclosed that it would miss its 10-Q filing deadline, that its previously issued financial statements for fiscal 2015 through the quarter ended April 3, 2016 should no longer be relied upon due to misstatements regarding its $2.3 billion long-term contract with the U.S. Army, which Orbital disclosed it now believed would result in a net loss, and that these issues “indicate the existence of one or more material weaknesses in its internal control over financial reporting.”
On this news, the price of Orbital’s shares plummeted by 20%.