The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Comtech Telecommunications Corp. (“Comtech” or “the Company”) (NASDAQ: CMTL) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Comtech reported its financial results for the third quarter of 2021 and updated its guidance for fiscal year 2021 on June 8, 2021. The Company’s guidance for fiscal year 2021 included consolidated net sales in the range of $580 million to $590 million, explaining that its "updated target primarily reflects a change in anticipated revenues in its Governmental Solutions segment due to the U.S. government's April 2021 announcement to fully withdraw troops from Afghanistan as well as other program changes." Based on this news, shares of Comtech fell by more than 13.7% on June 9, 2021.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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