SAN DIEGO and GRAND CAYMAN, Cayman Islands, Aug. 21, 2014 (GLOBE NEWSWIRE) -- Shareholder rights law firm Robbins Arroyo LLP is investigating potential violations of federal securities laws on behalf of investors of Fabrinet. Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services to manufacturers of optical communication components, modules and sub-systems, and industrial lasers and sensors.
Fabrinet Shares Fall on News of Internal Audit Committee Investigation
Shares of Fabrinet fell 18%, to close at $14.53 on August 18, 2014, following an announcement by the company that during the fourth quarter of the fiscal year, ended June 27, 2014, accounting issues were discovered prompting the audit committee to begin an internal investigation. The investigation is focused on whether any of the company's accounting policies were violated, or if there are deficiencies with either the controls and procedures or internal control over financial reporting. As a result of the ongoing investigation, Fabrinet has postponed its fourth quarter and fiscal year 2014 release of earnings and the Security Exchange Commission has been notified of the investigation.
Fabrinet Shareholders Are Encouraged to Contact Shareholder Rights Law Firm Robbins Arroyo LLP
If you invested in Fabrinet and would like to discuss your shareholder rights, please contact attorney Darnell R. Donahue at (800) 350-6003, DDonahue@robbinsarroyo.com, or via the information form on the firm's shareholder rights blog: www.robbinsarroyo.com/shareholders-rights-blog/fabrinet.
Robbins Arroyo LLP is a nationally recognized leader in securities litigation and shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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