SAN FRANCISCO, Aug. 1, 2018 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP alerts investors in IPG Photonics Corporation (NASDAQ: IPGP) to the firm's investigation into possible disclosure violations. If you purchased or otherwise acquired IPG Photonics securities between May 1, 2018 and July 31, 2018and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
On July 31, 2018, IPG Photonics announced its financial results for the second quarter ended June 30, 2018. The Company reportedly (1) missed Q2 estimates for earnings per share and revenue; (2) provided downside Q3 guidance; and (3) disclosed its order flow for the quarter was below target due to softening demand in Europe and China.
This news drove the price of IPG Photonics shares down $60.26, or almost 27%, to close at $164.04.
"We're focused on investors' losses and management's historical statements about the Company's business in Europe and China," said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding IPG Photonics should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email [email protected].
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