According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:
- Luna Innovations’ financial statements from August 10, 2023 to the present included false figures as a result of improper revenue recognition;
- as a result, Luna Innovations would need to restate its previously filed financial statements from August 10, 2023 to November 14, 2023;
- Luna Innovations lacked adequate internal controls; and
- as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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