NEW YORK CITY, NY / ACCESSWIRE / November 26, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Quanterix Corporation ("Quanterix" or "the Company") (NASDAQ:QTRX). Investors who purchased Quanterix securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/QTRX.
Investigation Details
On November 12, 2024, after market hours, Quanterix filed a Current Report on Form 8-K with the SEC, revealing its "non-reliance on previously issued financial statements." Quanterix also disclosed its "previously issued audited consolidated financial statements as of December 31, 2023 and 2022 and for each of the three years in the period ended December 31, 2023, and its unaudited consolidated financial statements for the quarterly and year-to-date (as applicable) periods ended March 31, 2022, June 30, 2022, September 30, 2022, March 31, 2023, June 30, 2023, September 30, 2023, March 31, 2024, and June 30, 2024 (collectively, the "Non-Reliance Periods"), should no longer be relied upon." Quanterix stated "management identified an error related to the capitalization of labor and overhead costs applied to prior periods going back to at least 2021, which impacted the valuation of inventory. This error relates to a design deficiency in the Company's internal control over financial reporting related to the accounting for inventory valuation. The cumulative effect of this error, when taken together with unrelated immaterial errors identified by the Company in prior periods, resulted in the need for material adjustments to previously issued financial statements." Following this news, Quanterix stock dropped $2.77 per share, or 18.3%, to close at $12.40 on November 13, 2024.
What's Next?
If you are aware of any facts relating to this investigation or purchased Quanterix securities, you can assist this investigation by visiting the firm's site: bgandg.com/QTRX. You can also contact Peretz Bronstein or his client relations manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660
There is No Cost to You
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
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Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
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Contact
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
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