SAN DIEGO, May 5, 2016 /PRNewswire/ -- Johnson & Weaver, LLP has commenced an investigation concerning whether Ability Inc. (NASDAQ: ABIL) violated federal securities laws. Ability provides tactical communications intelligence solutions for government agencies, military forces, and law enforcement and homeland security agencies worldwide.
On May, 2, 2016, Ability disclosed that it restated its 2012 - 2015 consolidated financial statements. Ability claimed that the restatements corrected errors concerning unrecognized commissions due to a vendor and its improper allocation and timing of revenue recognition. In a press release issued the same day, Ability announced the commencement of an internal investigation into the circumstances of the restatement. On this news, Ability's stock closed at $4.90 per share, down over 33% over the previous closing price of $7.32 per share on April 29, 2016.
If you are an Ability shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (email@example.com) by email or by phone at 619-814-4471. If emailing, please include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson & Weaver, LLP