Infinera Corporation Class Action Lawsuit - INFN

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.” 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.” Following this news, Infinera’s stock price fell over 7%.

In order to be eligible to join the INFN class action lawsuit, you must have incurred a loss on shares of Infinera Corporation purchased during the class period listed above.