Robbins LLP Is Investigating the Officers and Directors of Itron, Inc. (ITRI) on Behalf of Shareholders
Robbins LLP is investigating whether certain officers and directors of Itron, Inc. (NASDAQGS: ITRI) violated federal securities laws by issuing materially misleading business information to the investing public. Itron, Inc. provides metering solutions to electricity, gas, and water utility markets worldwide.
Itron Delays Filing Its Annual Report
On March 1, 2016, Itron announced that it would be delaying the filing of its Form 10-K with the U.S. Securities and Exchange Commission for the period ended December 31, 2015. The company cited weaknesses with its revenue procedures and controls, the combination of which represents a material weakness, and that it consequently expected to file the Form 10-K by March 15, 2016. Then, on March 15, 2016, Itron said that would further delay the filing of its Form 10-K and that it expects to receive a notice from NASDAQ indicating that it is not in compliance with NASDAQ Listing Rule 5250(c)(1). On this news, Itron stock fell by $3.14 per share, or over 7%, to close at $39.78 per share on March 16, 2016.
Itron Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, or you can complete the form below and we will contact you directly.