From the Wires
Block & Leviton LLP Investigates Veeco Instruments Inc. for Possible Violations of the Federal Securities Laws
By: PR Newswire
Nov. 16, 2012 06:45 PM
BOSTON, Nov. 16, 2012 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors nationwide, is investigating possible securities law violations involving Veeco Instruments Inc. ("Veeco" or the "Company") (NASDAQ: VECO) following the Company's disclosure that it has filed a form 12b-25, Notification of Late Filing, with the U.S. Securities and Exchange Commission ("SEC") relating to the Company's report on Form 10-Q for the period ended September 30, 2012.
On November 15, 2012, the Veeco announced that additional time is needed to file the Form 10-Q because the Company is in the process of evaluating the timing of recognition of revenue on the sale of certain Metal Organic Chemical Vapor Deposition (MOCVD) systems and related upgrades to these systems. If the Company is required to change the timing of its recognition of any revenue, there could be a shift in revenue between accounting periods which could constitute material changes to results of operations and financial condition for various periods.
News of the delayed filing caused shares of Veeco to fall $2.19 per share, or more than 7%, to close at $26.89. Block & Leviton's investigation seeks to determine, among other things, whether Veeco or its officers and directors have violated the federal securities laws. If you have any information relevant to this investigation, or purchased Veeco securities between May 9, 2012 and November 15, 2012 and have questions about your legal rights, please contact Philip J. Marino of Block & Leviton LLP at (617) 398-5600 or email him at Philip@blockesq.com.
Block & Leviton is a Boston-based law firm representing investors for violations of securities laws. The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 50 years.
This notice may constitute attorney advertising.
SOURCE Block & Leviton LLP
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