NEW YORK, Feb. 8, 2018 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Quantum Corporation ("Quantum" or the "Company") (NYSE: QTM). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Quantum and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On February 8, 2018, Quantum announced that it would postpone the release of its fiscal third quarter 2018 financial and operating results in order to complete an investigation into accounting matters and related internal controls that was raised in response to a recent inquiry by the U.S. Securities and Exchange Commission ("SEC"). The Company further disclosed that on January 11, 2018, Quantum received a subpoena from the SEC regarding its accounting practices and internal controls related to revenue recognition for transactions commencing April 1, 2016. On this news, Quantum's share price has fallen sharply during intraday trading on February 8, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, 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
888-476-6529 ext. 9980
SOURCE Pomerantz LLP