NEW YORK, NY / ACCESS Newswire / February 23, 2025 / Pomerantz LLP is investigating claims on behalf of investors of Huntington Ingalls Industries, Inc. ("Huntington Ingalls" or the "Company") (NYSE:HII). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Huntington Ingalls and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On October 31, 2024, Huntington Ingalls released its third quarter 2024 financial results, missing consensus estimates and revising downward its full year guidance, attributing the results to "reduced experience levels within [the Company’s] teams, both in production touch labor and supervision."
On this news, Huntington Ingalls’s stock price fell $65.53 per share, or 25.4%, to close at $184.96 per share on October 31, 2024.
Then, on February 6, 2025, Huntington Ingalls issued a press release reporting its financial results for the fourth quarter and full year 2024. Among other items, Huntington Ingalls reported fourth quarter earnings of only $123 million, or $3.15 per share, compared to $274 million, or $6.90 per share, for the same period in 2023. The Company also reported a year-over-year revenue decline of 5.4% for the quarter.
On this news, Huntington Ingalls’s stock price fell $35.83 per share, or 18.32%, to close at $159.75 per share on February 6, 2025.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP
View the original press release on ACCESS Newswire
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