LUNA Investors Have Opportunity to Lead Luna Innovations Incorporated Securities Fraud Lawsuit

LOS ANGELES , April 16, 2024 /PRNewswire/ --  The Law Offices of Frank R. Cruz announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Luna Innovations Incorporated ("Luna" or the "Company") (NASDAQ: LUNA).

Class Period: August 11, 2023 – March 25, 2024

Lead Plaintiff Deadline:May 31, 2024

If you are a shareholder who suffered a loss, click here to participate.

The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) Luna financial statements from August 10, 2023 to the present included false figures as a result of improper revenue recognition; (2) as a result, Luna would need to restate its previously filed financial statements from August 10, 2023 to November 14, 2023; (3) Luna lacked adequate internal controls; and (4) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.  If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com.  If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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SOURCE The Law Offices of Frank R. Cruz, Los Angeles