SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces an Investigation Concerning Possible Violations of Federal Securities Laws...
August 04 2016 - 12:19PM
Business Wire
Levi & Korsinsky announces it has commenced an investigation
of Cray Inc. (NASDAQ:CRAY) (“Cray”) concerning possible violations
of federal securities laws by the Company and/or certain of its
officers and directors.
On August 2, 2016, the Company released disappointing Second
Quarter 2016 financial results and changed its expected outlook for
2016. Cray announced the “change in the Company’s revenue outlook
was driven by numerous factors, including “a very recent electrical
smoke event caused by a failed manufacturing facility power
component that will delay the Company’s ability to deliver on some
customer contracts in 2016, including an impact on anticipated
third quarter revenue.” They further noted that some of the systems
damaged by the smoke event were “key pieces of larger customer
solutions.” Following this news, shares of Cray fell from a close
of $31.28 per share on August 2, 2016, to a close of $21.81 per
share the following day. To obtain additional information, go
to:
http://www.zlkdocs.com/CRAY-Info-Request-Form-4642
or contact Joseph E. Levi, Esq. either via email at
jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877)
363-5972.
Levi & Korsinsky is a national firm with offices in New
York, New Jersey, California, Connecticut and Washington D.C. The
firm’s attorneys have extensive expertise in prosecuting securities
litigation involving financial fraud, representing investors
throughout the nation in securities and shareholder lawsuits.
Attorney advertising. Prior results do not guarantee similar
outcomes.
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version on businesswire.com: http://www.businesswire.com/news/home/20160804006016/en/
Levi & Korsinsky, LLPEduard Korsinsky, Esq.Tel: (212)
363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171www.zlk.com
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