February 12, 2014 (Shareholders Foundation) - An investigation on behalf of investors of Itron, Inc. (NASDAQ:ITRI) shares over potential securities laws violations by Itron, Inc. and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Itron, Inc. (NASDAQ:ITRI) concerning whether a series of statements Itron, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Itron, Inc. reported that its annual Total Revenue rose from over $1.68 billion in 2009 to $2.17 billion in 2012 and that its Net Loss of $510.16 million in 2011 turned into a Net Income of $108.28 million in 2012.

Shares of Itron, Inc. (NASDAQ:ITRI) grew from $29.50 per share In September 2011 to as high as $47.55 per share in February 2013.

On February 12, 2014, Itron, Inc. reported its fourth quarter and fiscal 2013 financial results. Itrons annual Total Revenue declined from over $2.17 billion in 2012 to over $1.94 billion in 2013 and its Net Income of $108.28 million declined to a Net loss of $146.80 million in 2013. Among other things, Itron, Inc. reported a $173 million non-cash goodwill impairment charge recorded during the quarter resulting in $4.12 per share impact.