Zeldes Haeggquist & Eck, LLP, a shareholder and consumer rights litigation firm has commenced an investigation on behalf of shareholders who purchased shares of Fabrinet (“Fabrinet” or the “Company”) (NYSE: FN) common stock for possible violations of federal securities laws. This investigation also includes shareholders who purchased shares in Fabrinet’s May 29, 2014 Secondary Offering of 3.15 million ordinary shares at $18.00 per share.
Fabrinet is a Thailand-based company that provides optical, electro-mechanical and electronic manufacturing services to equipment manufacturers.
Zeldes Haeggquist & Eck is investigating whether Fabrinet made misrepresentations or omissions to investors regarding its internal controls and accounting practices. On August 18, 2014, Fabrinet announced that it was postponing its Fourth Quarter and Fiscal 2014 earnings release pending an internal investigation into its accounting practices.
As a result of this disclosure on August 18, 2014, the price of Fabrinet common stock (NYSE: FN) fell from $17.75 to $14.53, a decline of over 18%, on very heavy volume. This was also a significant decline from the stock’s Secondary Offering price of $18.00.
What You Can Do
If you purchased Fabrinet shares, you may have legal claims against Fabrinet’s Officers and Directors. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact the attorneys at Zeldes Haeggquist & Eck, LLP.