Glancy Prongay & Murray LLP ("GPM"), a leading national shareholder rights law firm, continues its investigation on behalf of CIRCOR International, Inc. ("CIRCOR" or the "Company") (NYSE: CIR) investors concerning the Company's possible violations of the federal securities laws.
If you suffered a loss on your CIRCOR investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/circor-international-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at firstname.lastname@example.org to learn more about your rights.
On March 14, 2022, CIRCOR disclosed that it may restate financial results dating to 2018 due to accounting irregularities related to its pipeline engineering unit. The Company stated that the irregularities appear to be "in the range of $35 to $45 million of pre-tax income on a cumulative basis over a period of at least five years."
On this news, the Company's stock fell as much as 2.4% during after hours trading on March 14, 2022.
Then, on April 1, 2022, CIRCOR announced the preliminary impact of the "accounting irregularities," including that the previously reported "pre-tax income of the Pipeline Engineering business unit for [the 12-month period ending Q3 2021] in the range of $4 million to $5 million is now expected to be a pre-tax loss in the range of $7 million to $8 million."
Then, on May 23, 2022, CIRCOR announced selected preliminary financial expectations for the first quarter of 2022 with reported orders expected to be down low-single digits and organic orders expected to be roughly flat year-over-year.
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Whistleblower Notice: Persons with non-public information regarding CIRCOR should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email email@example.com.
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SOURCE: Glancy Prongay & Murray LLP
Glancy Prongay & Murray LLP, Los Angeles Charles H. Linehan, 310-201-9150 or 888-773-9224 1925 Century Park East, Suite 2100 Los Angeles, CA 90067 www.glancylaw.com firstname.lastname@example.org