IRVINE, CA / ACCESSWIRE / July 25, 2016 / Khang & Khang LLP (the "Firm") announces that a class action lawsuit was filed against Ability Inc. ("Ability" or the "Company") (NASDAQ: ABIL). Investors who purchased or otherwise acquired shares between September 8, 2015 and April 29, 2016 inclusive (the "Class Period"), are encouraged to contact the Firm prior to the July 25, 2016 lead plaintiff motion deadline.
If you purchased shares of Ability during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at joon@khanglaw.com.
There has been no class certification in this case. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
The complaint alleges that, during the Class Period, Ability issued false and misleading statements and/or failed to disclose that: the Company overstated its income by not accounting for commissions; the Company materially overstated its operating results by improperly recognizing revenue on multiple element sales transactions; Ability has material weaknesses in its internal controls; and as a result of the above, the Company's financial statements for the years ending December 31, 2013 and 2014 were materially false and misleading, and not prepared in accordance with U.S. Generally Accepted Accounting Principles.
If you wish to learn more about this lawsuit, or if you have any questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or by e-mail at joon@khanglaw.com.
This press release may constitute Attorney Advertising in some jurisdictions.
Contacts
Joon M. Khang, Esq.
Telephone: 949-419-3834
Facsimile: 949-225-4474
joon@khanglaw.com
SOURCE: Khang & Khang LLP
ReleaseID: 442760
