NEW YORK--(BUSINESS WIRE)--The Rosen Law Firm announces that it is investigating potential securities claims against Itron, Inc. (NASDAQ:ITRI) resulting from allegations that Itron may have issued materially misleading business information to the investing public.
On February 12, 2014, Itron filed a Form 8-K with the U.S. Securities and Exchange Commission (“SEC”) unexpectedly disclosing that it would take a $173.2 million goodwill impairment charge in its Electricity segment and reporting unit in the fourth quarter of 2013. On that same day, Itron stated in a press release that the impairment was primarily caused by “delays in global smart grid projects, and lower volumes and pricing pressures in certain regions in Europe and Asia Pacific.” These adverse facts caused Itron’s stock to fall over $6 per share, or approximately 16%, in intraday trading on February 13, 2014.
The Rosen Law Firm is preparing a class action lawsuit as a result of this adverse information. If you purchased Itron stock before February 12, 2014, please visit the website at http://rosenlegal.com to take action. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq., or of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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