Investigation Overview
February 24, 2017 (Shareholders Foundation) - An investigation on behalf of investors of Motorola Solutions Inc (NYSE:MSI) shares over potential securities laws violations by Motorola Solutions 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 Motorola Solutions Inc (NYSE:MSI) concerning whether a series of statements by Motorola Solutions Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Motorola Solutions Inc reported that its annual Total Revenue rose from over $5.69 billion in 2015 to over $6.03 billion in 2016 and that its Net Income declined from $640 million to $560 million.
Shares of Motorola Solutions Inc (NYSE:MSI) grew from $57.48 per share in July 2015 to as high as $85.29 per share on January 25, 2017.
On February 7, 2017, a report was published that Motorola Solutions handset sales contributed 'a whopping 76.7% of Motorola's bottom line', that Motorola Solutions handsets were significantly overpriced, and that Motorola Solutions 'borderline anti-competitive' sales tactics were unlikely to prove sustainable in competitive bidding for government contracts.
Shares of Motorola Solutions Inc (NYSE:MSI) declined to as low as $76.92 per share on February 7, 2017.
On February 10, 2017, NYSE:MSI shares closed at $78.37 per share.