Finkelstein Thompson LLP Announces Investigation of UTStarcom, Inc.
WASHINGTON, Aug. 20 /PRNewswire/ -- Finkelstein Thompson LLP is
investigating potential shareholder claims involving UTStarcom, Inc.
('UTStarcom or the 'Company') (Nasdaq: UTSI).
historical stock option grant practices uncovered evidence that stock option
grants were backdated. As a result of these findings, the Company further
announced that its previously issued financial statements for the years 2000
through 2006 should no longer be relied upon, and would be restated by at
That same day, the Company further disclosed that the Board of Directors'
Audit Committee had commenced a review of historical sales contracts with some
of its customers in
further delay in the Company's ability to file its financial reports.
The market responded sharply to these announcements with the price of
UTStarcom common stock dropping approximately 17% to close at
If you are a UTStarcom shareholder and wish to discuss your rights and
interests as an investor, please contact our Washington, D.C. office toll-free
at (877) 337-1050. You can learn more about Finkelstein Thompson LLP at
SOURCE Finkelstein Thompson LLP