The Shareholders Foundation announces that an investigation on behalf of investors of Fabrinet (NYSE:FN) shares was initiated over potential securities laws violations by Fabrinet and certain of its directors and officers.
Investors who purchased shares of Fabrinet (NYSE:FN) have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Fabrinet (NYSE:FN) concerning whether a series of statements by Fabrinet regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Fabrinet reported that its Total Revenue rose from $564.73 million for the 12 months period that ended on June 29, 2012 to $641.54 million for the 52 weeks period that ended on June 28, 2013 and that its Net Loss of $56.47 million for the 12 months period that ended on June 29, 2012 turned into a Net Income of $68.97 million for the 52 weeks period that ended on June 28, 2013. Shares of Fabrinet (NYSE:FN) grew from $9.35 per share in October 2012 to as high as $21.82 per share in May 2014.
Then on August 18, 2014, Fabrinet (NYSE:FN) announced that during the fourth quarter of the fiscal year ended June 27, 2014, certain accounting issues were discovered by management, which prompted the Audit Committee to commence an internal investigation. Fabrinet said that its Audit Committee is investigating whether there were any violations of the Company’s accounting policies associated with these potential accounting matters and that the Company has also notified the SEC of the Audit Committee’s investigation. Shares of Fabrinet declined from $19.67 per share on August 11, 2014, to $13.57 per share on August 18, 2014.
On August 29, 2014, NYSE:FN shares closed at $16.19 per share.
Those who purchased shares of Fabrinet (NYSE:FN) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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