NEW ORLEANS, — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until April 16, 2018 to file lead plaintiff applications in a securities class action lawsuit against Quantum Corporation (NYSE:QTM), if they purchased the Company’s securities between May 10, 2016 and February 7, 2018, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased securities of Quantum and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-qtm/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by April 16, 2018.
About the Lawsuit
Quantum and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 8, 2018, pre-market opening, the Company revealed that it was postponing the release of its Q3 2018 results due to an ongoing internal investigation by its audit committee stemming from a subpoena received on January 11, 2018 from the Securities and Exchange Commission relating to the Company’s “accounting practices and internal controls related to revenue recognition for transactions commencing April 1, 2016.”
On this news, the price of Quantum’s shares plummeted nearly 30%, to close at $3.90 per share on February 8, 2018.
About Kahn Swick & Foti, LLC
KSF, whose partners include the former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.