METAIRIE, La., Aug. 1, 2008 (PRIME NEWSWIRE) -- The Law Offices of Eric J. O'Bell, LLC ("O'Bell") announce that it is commencing an investigation into Harris Stratex Networks, Inc. ("Harris Stratex" or the "Company") (Nasdaq:HSTX) to determine whether it has violated federal securities laws by issuing materially false and misleading statements to shareholders.
Harris Stratex, an independent supplier of turnkey wireless transmission solutions, recently announced that the Company discovered accounting errors which would require it to restate earnings reports from 2005 through the present. The Company reported these errors will cut previously reported earnings by $18 million to $25 million. Upon publication of this news, shares of Harris Stratex declined to a new 52-week low.
If you are a Harris Stratex shareholder, and/or have information that would assist in this ongoing investigation, or have other questions relating to a loss you've suffered in your investment, you may contact Eric J. O'Bell directly without obligation or cost to you at 504-456-8677; or by email to ejo@obelllawfirm.com.