Glancy Binkow & Goldberg LLP announces that it is investigating potential claims on behalf of purchasers of the securities of Veeco Instruments Inc. (“Veeco” or the “Company’") (NASDAQ:VECO) concerning possible violations of federal securities laws. The investigation focuses on allegations that certain statements issued by Veeco were false and misleading concerning the Company’s financial performance.
Veeco, together with its subsidiaries, designs, manufactures and markets worldwide various equipments to make light emitting diodes (LEDs) and hard-disk drives. On November 15, 2012 Veeco issued a press release disclosing that the Company has filed a Form 12b-25, Notification of Late Filing, with the Securities and Exchange Commission, related to the Company’s quarterly report on Form 10-Q for the period ended September 30, 2012. The press release stated that the additional time is needed 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.” According to the Company, if Veeco 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.”
Following this news, shares of Veeco fell $2.19, to a closing price of $26.68 on November 16, 2012, on heavy trading volume of more than 2.3 million shares traded.
If you purchased Veeco securities, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by telephone at (310) 201-9150, Toll Free at (888) 773-9224, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com.
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