WASHINGTON, Aug. 1, 2008 (PRIME NEWSWIRE) -- Harris Stratex Networks, Inc. (Nasdaq:HSTX) (the "Company") announced it had discovered accounting errors which would require it to restate earnings over four fiscal years -- that is, for fiscal 2008, 2007, 2006, and 2005. The Company also stated higher costs would lead it to miss its previously stated earnings target for fiscal 2008. Harris Stratex's share price dropped on this news, losing as much as 35% of its value after the restatement was announced.
Finkelstein Thompson LLP welcomes inquiries from Harris Stratex shareholders concerning their rights and interests in connection with this matter. Finkelstein Thompson LLP has spent almost three decades delivering outstanding representation to institutional and individual clients in connection with securities and other finance-related litigation, and has been appointed as lead or co-lead counsel in dozens of shareholder class actions. Indeed, in the past decade, the firm has served leadership roles in cases that have recovered over $1 billion for investors and consumers.
Interested shareholders can reach Finkelstein Thompson's Washington, DC office at (877) 337-1050 or by email at contact@finkelsteinthompson.com.