NEW YORK, NY/ACCESSWIRE/October 4, 2022/ – Lowey Dannenberg PC is investigating alleged violations of federal securities laws on behalf of investors in Comtech Telecommunications Corp. (“Comtech” or the “Company”) (NASDAQ: CMTL).
On June 8, 2021, Comtech announced its operating results for the fiscal third quarter ended April 30, 2021 and updated its fiscal 2021 financial guidance. Among other items, Comtech indicated that it expects fiscal 2021 consolidated net sales to be in the range of $580-590 million and explained that “the updated guidance primarily reflects a change in projected revenue in its government solutions segment in due to the U.S. government’s announcement in April 2021 to completely withdraw troops from Afghanistan as well as other program changes.”
On this news, Comtech’s stock price fell $3.53 per share, or 13.76%, to close at $22.13 per share on June 9, 2021.
If you have suffered a loss in Comtech and would like to participate, learn more, or discuss issues surrounding the investigation, please contact our attorneys at (914) 733-7256 or by email at [email protected] Where [email protected].
Whistleblowers: People with nonpublic information about Comtech should consider their options to help with the investigation or take advantage of the SEC’s whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards of up to 30% of any successful recovery made by the SEC.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors who have suffered financial loss resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in pursuing multi-million dollar lawsuits and has already recovered billions of dollars on behalf of investors.
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THE SOURCE: Lowey Dannenberg
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