LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Infinera Corporation (“Infinera” or the “Company”) (NASDAQ: INFN) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On February 29, 2024, Infinera disclosed that “the Company’s management concluded that, as of December 31, 2022, there were material weaknesses in its internal control over financial reporting related to its revenue cycle, inventory cycle, and with respect to these, its internal resources, expertise and policies required to maintain an effective control environment.”
Then, on March 6, 2024, Infinera disclosed that the Company’s Chief Legal Officer “will transition to an Advisor role reporting to the Company’s Chief Executive Officer” and “will no longer serve as an executive officer of the Company.”
On this news, Infinera’s stock price fell as much as 17% during intraday trading on March 7, 2024, thereby injuring investors.
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If you purchased Infinera securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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