Update in Lawsuit for Investors in Orbital ATK Inc. (NYSE: OA) Shares Announced by Shareholders Foundation

SAN DIEGO, CA / ACCESSWIRE / June 5, 2017 / The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain purchasers of NYSE: OA shares against Orbital ATK Inc. over alleged Violations of Securities Laws.

Investors who purchased shares of Orbital ATK Inc. (NYSE: OA) in 2014 or earlier and continue to hold any of those NYSE: OA shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.

On August 10, 2016, Orbital ATK, Inc., formerly Alliant Techsystems Inc, announced that it expects to restate its financial statements for the fiscal year ended March 31, 2015 (“fiscal 2015”), the nine-month transition period ended December 31, 2015 (“2015 transition period”), the quarters in fiscal 2015 and the 2015 transition period, and the quarter ended April 3, 2016. The misstatements Orbital ATK, Inc. identified relate primarily to Orbital ATK, Inc’s $2.3 billion long-term contract with the U.S. Army to manufacture and supply small caliber ammunition at the U.S. Army’s Lake City Army Ammunition Plant.

On August 12, 2016, a lawsuit was filed against Orbital ATK Inc. over alleged securities laws violations. The plaintiff alleged that the defendants made false and/or misleading statements and/or failed to disclose that Orbital ATK Inc. lacked effective control over financial reporting, that as a result, the Company failed to record an anticipated loss on the Contract after the loss became evident in 2015, as required by generally accepted accounting principles, and that as a result of the foregoing, Orbital’s public statements were materially false and misleading at all relevant times.

On April 24, 2017 an amended complaint was filed and on May 30, 2017 the defendants filed their motion to dismiss the case.

Those who purchased Orbital ATK Inc. (NYSE: OA) shares should contact the Shareholders Foundation, Inc.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

CONTACT:

Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

SOURCE: Shareholders Foundation, Inc.

ReleaseID: 464801