66.5 F
San Diego
Saturday, Jul 13, 2024
-Advertisement-

Wireless Facilities Faces Class Action Lawsuits

A class action lawsuit has been filed against San Diego-based Wireless Facilities Inc. and certain directors and officers on behalf of company shareholders, a law firm announced March 22.

The law firm of Goldman Scarlato & Karon, out of Conshohocken, Pa., filed the suit in U.S. District Court for the Southern District of California.

Members of the class action include shareholders who owned or acquired Wireless Facilities stock , traded on the Nasdaq as WFII , between March 29, 2001, and March 12, 2007.

Wireless Facilities is currently being sued on behalf of shareholders by two other law firms, claiming that the company and its directors and officers made misleading statements and material omissions regarding the company’s performance, harming investors.

The law firm Johnson & Perkinson, which announced its class action March 19, alleges that Wireless Facilities improperly accounted for backdated options, harming shareholder value.

Telecom services provider Wireless Facilities’ stock dropped 3 cents from its previous close to $1.42 on March 21.

, Andy Killion

-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-
-Advertisement-