Case Summary

Luna Innovations

NASDAQ: LUNA

Case Details

  • Karzoun v. Luna Innovations Incorporated et al.
  • Class Period:August 11, 2023 - March 25, 2024
  • Date Filed:April 01, 2024
  • Jurisdiction:U.S. District Court, Central District of California
  • Docket Number: 2:24-cv-02630
  • Lead Plaintiff Deadline: May 31, 2024
Days Left to
Seek Plaintiff
39

Overview

A class action lawsuit has been filed against Luna Innovations Incorporated (“Luna Innovations” or the “Company”) (NASDAQ: LUNA) and certain of the Company’s current and former senior executive officers alleging violations of the Securities Exchange Act of 1934. The Luna lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired publicly traded Luna Innovations securities between August 11, 2023, and March 25, 2024, both dates inclusive (the “Class Period”) and investors have until May 31, 2024, to seek appointment as lead plaintiff of the Luna class action lawsuit.

Defendant Luna Innovations is a technology company that is focused on fiber optics. It creates products targeted towards the aerospace, automotive, and communications industries, among others.

The lawsuit alleges that, throughout the class period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Luna Innovations financial statements from August 10, 2023 to the present included false figures as a result of improper revenue recognition; (2) as a result, Luna Innovations would need to restate its previously filed financial statements from August 10, 2023 to November 14, 2023; (3) Luna Innovations lacked adequate internal controls; and (4) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times.

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If you purchased or otherwise acquired publicly traded Luna Innovations securities between August 11, 2023, and March 25, 2024, both dates inclusive, and suffered substantial losses, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the Luna lawsuit is May 31, 2024.

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