NEW YORK, May 3, 2016 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against Ability, Inc. ("Ability" or the "Company") (NASDAQ: ABIL) and certain members of management concerning whether they have violated the federal securities laws.
On May 2, 2016, the Company disclosed that it would be required to restate its financial statements for 2012, 2013, 2014, and 2015 due to errors in revenue recognition and other bad accounting. On this news, Ability stock fell from over $7 per share and is currently trading at approximately $4.65 per share.
Our investigation concerns whether the Company and its management have violated the Securities Exchange Act of 1934 by issuing false and/or misleading financial statements and other disclosures.
If you own Ability shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Follow us on Twitter: @HarwoodFeffer
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP