|Company:||Harris Stratex Networks, Inc|
|Class Period:||Jan-29-07 to Jul-30-08|
|Lead Plaintiff Deadline:||Nov-14-08|
|Court:||District of Delaware|
On July 30, 2008, the Company announced that it had discovered accounting errors which rendered its previously issued financial statements to be incorrect. According to the announcement, the Company will restate earnings reports from 2005 through the present. The Company reported these accounting errors will cut previously reported pre-tax income by $18 million to $25 million. As a result of the restatement, the Company announced that its prior financial statements for the first three quarters of fiscal 2008 and the fiscal years 2005 through 2007 should no longer be relied upon. Harris Stratex's share price fell in reaction to the announcement, falling from $11.24 to $7.35 per share -- a 34.61% decline in value.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.