SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Dril-Quip, Inc. - DRQ

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Dril-Quip, Inc.

Jul 10, 2024 by PR Newswire

Key Facts

  • , /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Dril-Quip, Inc. ("Dril-Quip" or the "Company") (NYSE: DRQ).
  • The investigation concerns whether Dril-Quip and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
  • Securities and Exchange Commission that it had identified "an error in the classification of certain inventory write-downs from 2021."
  • The Company classified these charges as 'Restructuring and other charges'; however, these charges should have been classified in 'Cost of sales' in the Consolidated Statement of Income (Loss) for the fiscal year ended December 31, 2021, in accordance with ASC 420-10-S99-3.

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