Our attorneys are investigating potential claims on behalf of investors of AngioDynamics, Inc. (NASDAQ: ANGO) regarding possible securities law violations.
If you purchased or otherwise acquired shares in AngioDynamics and would like to learn more about the investigation, contact us to speak privately with a securities attorney.
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News of 'Material Weakness' Causes Share Price to Fall 7.5%
After the close of trading on July 17, 2017, AngioDynamics, Inc. announced that its auditor found a material weakness in its internal control over financial reporting as of May 31, 2016 because it did not design and maintain effective internal controls over the accounting for the annual goodwill impairment test. Specifically, it did not have effective controls to review in sufficient detail the cash flow projections and valuation model assumptions used in the goodwill impairment test as of December 31, 2015.
Following this news, on July 18, 2017 the company’s share price fell by 7.5% in intraday trading, causing significant harm to investors.
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