The Law Offices of Frank R. Cruz Announces Investigation of Luna Innovations Incorporated (LUNA) on Behalf of Investors
The Law Offices of Frank R. Cruz announces an investigation of Luna Innovations Incorporated ("Luna" or the "Company") (NASDAQ: LUNA) on behalf of investors concerning the Company's possible violations of federal securities laws.
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On March 12, 2024, Luna disclosed that "certain transactions for which revenue was recognized in the second and third quarters of 2023 that did not qualify for revenue recognition under U.S. generally accepted accounting principles," and that the Company's previously issued financial statements for those quarters should no longer be relied upon. Additionally, Luna stated that it has identified material weaknesses in its internal control over financial reporting, and it would be delaying the release of its fourth quarter and full year 2024 financial results.
On this news, Luna's stock price fell as much as 40% during intraday trading on March 13, 2024, thereby injuring investors.
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If you purchased Luna securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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