ADTRAN reported preliminary unaudited revenue between $280 million and $282 million, failing to meet its earlier projection of $283 million to $303 million. Profitability also took a hit, with non-GAAP operating margins landing between 3.5% and 4.0%, well below the anticipated 5% to 9% range. Management cited a delay in a single-customer project as the primary catalyst for the disappointing results.

The investigation aims to determine whether the company’s previous disclosures regarding its financial outlook and the status of its project pipeline were misleading to shareholders. Levi & Korsinsky is currently evaluating potential claims for investors who sustained losses following the market reaction. Participation in the inquiry does not require upfront legal fees, as cases of this nature are typically managed on a contingency basis.