NEW YORK, May 3, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Ability, Inc. ("Ability" or the "Company") (NASDAQ: ABIL). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 237.
The investigation concerns whether Ability and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On May 2, 2016, Ability released an annual report on Form 20-F disclosing that the Company would restate its financial results for 2013 and 2014. Ability admitted that it had improperly allocated and timed its revenue recognition, and failed to recognize commissions due to a third party.
On this news, Ability stock fell $2.42, or 33.06%, to close at $4.90 on May 2, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP