NEW YORK, May 25, 2016 (GLOBE NEWSWIRE) — The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Ability, Inc. (“Ability” or “the Company”) (NASDAQ:ABIL) between September 8, 2015 and April 29, 2016.
You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Southern District of New York. If you purchased or otherwise acquired Ability securities between September 8, 2015 and April 29, 2016, your rights may be affected by this action. To get more information go to:
or contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that, throughout the Class Period, defendants issued false and misleading statements to investors and/or failed to disclose that: (1) Ability materially overstated its income by failing to account for commissions; (2) Ability materially overstated its operating results by improperly recognizing revenue on multiple element sales transactions; (3) Ability has material weaknesses in its internal controls; (4) as a result of the foregoing, Ability’s financial statements for the years ending December 31, 2013 and 2014 were materially false and misleading and not prepared in accordance with U.S. Generally Accepted Accounting Principles.
If you suffered a loss in Ability you have until July 25, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com