An investigation for investors in NASDAQ:ITRI shares was announced concerning possible breaches of fiduciary duties by certain directors at Itron.
Investors who purchased shares of Itron, Inc. (NASDAQ:ITRI) 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 concerns whether certain Itron directors breached their fiduciary duties and caused damage to the company and its shareholders.
On February 17, 2016, Itron, Inc announced its fourth quarter and full year 2015 financial results and issued its financial guidance for its full year 2016. Itron, Inc. reported that its annual Total Revenue declined from over $1.97 billion in 2014 to over $1.87 billion in 2015 while its Net Loss of $22.92 million in 2014 turned into a Net Income of $24.77 million in 2015.
On March 1, 2016, Itron, Inc announced that it is delaying the filing of its Form 10-K for the period ended Dec. 31, 2015 with the Securities and Exchange Commission, because it identified deficiencies in its revenue processes and controls, the combination of which represents a material weakness, and thus it expected to file the Form 10-K on or before March 15, 2016.
On March 15, 2016, Itron, Inc announced that it is further delaying the filing of its Form 10-K beyond the March 15, 2016 due date, and that it expects to receive a notice from NASDAQ indicating that it is not currently in compliance with NASDAQ Listing Rule 5250(c)(1).
Shares of Itron, Inc. (NASDAQ:ITRI) closed on April 5, 2016 at $40.46 per share.
Those who purchased NASDAQ:ITRI shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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