NEW YORK, Feb. 12, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Itron, Inc. ("Itron" or the "Company") (NasdaqGS: ITRI). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 237.
The investigation concerns whether Itron and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On February 12, 2014, the Company filed a Form 8-K with the Securities and Exchange Commission ("SEC") announcing a surprising $173 million impairment to goodwill in connection with delays in global smart grid projects the Company has under development, and lower volumes and pricing pressures in certain regions in Europe and the Asia Pacific.
On this news, Itron shares fell $5.69 per share to $33.50, or more than 14.52%, in after-hours trading on February 12, 2014.The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com. CONTACT: Robert S. WilloughbyPomerantz LLP email@example.com SOURCE Pomerantz LLP