A securities class action has been filed in the USDC – C.D.CA., against Luna Innovations Incorporated (LUNA) (“Luna Innovations” or the “Company”), on behalf of all persons and entities that purchased or otherwise acquired Luna Innovations securities between August 11, 2023 and March 25, 2024, both dates inclusive (the “Class Period”).

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 complaint alleges, 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, thereby harming investors.

If you purchased Luna Innovations securities during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

About Lowey Dannenberg

Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.