Luna Innovations
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
On March 12, 2024, Luna revealed that it would postpone the publication of its financial results for the fourth quarter and the full year of 2023. The delay is due to an independent examination by a Special Committee of the Board of Directors, assisted by outside legal and financial consultants, into specific transactions recorded as revenue in the second and third quarters of 2023, which do not meet the revenue recognition criteria set by U.S. generally accepted accounting principles. The company also anticipates disclosing significant deficiencies in its internal control systems.
Previously, on October 17, 2023, Luna disclosed the sudden departure of its Chief Financial Officer, Eugene Nestro, without providing a reason for his exit at that time.
Following the announcement of the postponed financial reporting, the company’s stock price dropped by 23% in pre-market trading on March 13, 2024.
