BENSALEM, Pa. –Law Offices of Howard G. Smith commences an investigation on behalf of Quantum Corporation (“Quantum” or the “Company”) (NYSE: QTM) investors concerning the Company and its officers’ possible violations of federal securities laws.
On February 8, 2018, Quantum announced that it received a subpoena from the Securities and Exchange Commission on January 11, 2018 regarding its accounting practices and internal controls related to revenue recognition for transactions commencing April 1, 2016. Quantum further stated it was postponing the release of its fiscal third quarter 2018 results and earnings conference call so that its audit committee could complete an investigation into Quantum’s accounting matters and related internal controls.
On this news, shares of Quantum fell $1.99, or nearly 36% to close at $3.58 on February 8, 2018, thereby injuring investors.
If you purchased Quantum 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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