Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, March 11, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Infinera Corporation (“Infinera” or the “Company”) (NASDAQ: INFN) investors that the law firm has initiated an investigation on behalf of investors that lost money on their Infinera stock. Infinera investors are encouraged to contact the firm to discuss their legal rights.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On February 29, 2024, Infinera revealed in a statement that, as of December 31, 2022, the company identified significant weaknesses in its internal controls over financial reporting, specifically within its revenue and inventory cycles. These weaknesses were attributed to deficiencies in internal resources, expertise, and policies necessary to sustain an effective control environment. Consequently, Infinera admitted that its internal control over financial reporting was ineffective as of December 31, 2022, remains ineffective, and that the identified material weaknesses had not been remedied as of the filing date of this amendment. Following the disclosure of this information, there was a decline in the company's stock price.
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The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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