On August 2, 2016, Cray released its financial results for the Second Quarter 2016 and altered its 2016 projections. Cray said 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." Cray also said that the electrical smoke damaged some of its systems, "key pieces of larger customer solutions." Following this news, Cray stock dropped from $9.47 per share to close at $21.81 per share on August 3, 2016.
If you purchased Cray shares or if you are aware of any facts relating to this investigation, you can assist this investigation by visiting the firm's site: http://www.bgandg.com/cray. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
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