According to a press release a law firm is currently investigating possible civil securities claims against Harris Stratex Networks, Inc. (NASDAQ: HSTX) concerning allegations that Harris Stratex Networks, Inc. issued materially false and misleading statements about its financial condition prior to and following its formation in early 2007 through the date of the merger of Stratex and the Harris Microwave Communications Division.

According to the press release on July 30, 2008 Harris Stratex Networks, Inc. (NASDAQ: HSTX) announced that it discovered accounting errors which rendered its previously issued financial statements to be incorrect and according to the announcement, Harris expects that the errors would cause previously reported pre-tax income to be reduced by $18 million to $25 million; thus, Harris announced that its prior financial statements for the first three quarters of fiscal 2008 and the fiscal years 2005-2007 should no longer be relied upon and as a result of this news, shares of the Companys stock fell $3.89 per share, or 34.61 percent, to close on July 31, 2008 at $7.35 per share, on unusually heavy trading volume, so the investigation.