NEW YORK, March 16, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Itron, Inc. ("Itron" or the "Company") (NASDAQ: ITRI). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Itron and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On March 1, 2016, Itron announced that it was delaying the filing of its Form 10-K for the period ended December 31, 2015 with the U.S. Securities and Exchange Commission after identifying deficiencies in its revenue processes and controls, the combination of which represents a material weakness, and thus expected to file the Form 10-K on or before March 15, 2016. On March 15, 2016, Itron announced that it was further delaying the filing of its Form 10-K beyond the March 15, 2016 due date, and that it expected to receive a notice from NASDAQ indicating that it is not currently in compliance with NASDAQ Listing Rule 5250(c)(1).
On this news, shares of Itron have fallen as much as $3.51, or 8.18%, to $39.41 during intraday trading on March 16, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, 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 70 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
SOURCE Pomerantz LLP