Levi & Korsinsky announces the filing of a class action lawsuit in the USDC for the Southern District of New York on behalf of shareholders of Ability, Inc. (NASDAQ: ABIL) who purchased shares between September 8, 2015 and April 29, 2016.
The complaint alleges that, throughout the Class Period, defendants issued false and misleading statements to investors and/or failed to disclose that: (1) Ability materially overstated its income by failing to account for commissions; (2) Ability materially overstated its operating results by improperly recognizing revenue on multiple element sales transactions; (3) Ability has material weaknesses in its internal controls; (4) as a result of the foregoing, Ability’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 suffered a loss in Ability you have until July 25, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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