NEW YORK, Aug. 4, 2016 /PRNewswire/ -- Attorney Advertising
-- Bronstein, Gewirtz & Grossman, LLC is investigating
potential claims on behalf of purchasers of the securities Cray,
Inc. ("Cray" or the "Company") (NASDAQ: CRAY). Such investors are
advised to contact Peretz Bronstein
or his investor relations analyst, Yael
Hurwitz at info@bgandg.com or 212-697-6484.
The investigation concerns whether Cray and certain of its
officers and/or directors have violated Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934.
On August 2, 2016, Cray released
its financial results for the Second Quarter 2016 and altered its
2016 projections. Cray said the "change in the Company's revenue
outlook was driven by numerous factors, including "a very recent
electrical smoke event caused by a failed manufacturing facility
power component that will delay the Company's ability to deliver on
some customer contracts in 2016, including an impact on anticipated
third quarter revenue." Cray also said that the electrical smoke
damaged some of its systems, "key pieces of larger customer
solutions." Following this news, Cray stock dropped from
$9.47 per share to close at
$21.81 per share on August 3, 2016.
If you purchased Cray shares or if you are aware of any facts
relating to this investigation, you can assist this investigation
by visiting the firm's site: http://www.bgandg.com/cray. You can
also contact Peretz Bronstein or his
Investor Relations Analyst, Yael
Hurwitz of Bronstein, Gewirtz & Grossman, LLC:
212-697-6484 or via email info@bgandg.com. Those who inquire
by e-mail are encouraged to include their mailing address, email
and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation
boutique. Our primary expertise is the aggressive pursuit of
litigation claims on behalf of our clients. In addition to
representing institutions and other investor plaintiffs in class
action security litigation, the firm's expertise includes general
corporate and commercial litigation, as well as securities
arbitration. Attorney advertising. Prior results do not
guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
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SOURCE Bronstein, Gewirtz & Grossman, LLC