Investigation Commenced Against Harmonic Inc. by Levi & Korsinsky
New York, NY – February 28, 2025
Levi & Korsinsky, a leading securities law firm, has announced that it has commenced an investigation of Harmonic Inc. (HLIT) regarding potential securities laws violations. The investigation comes following the release of Harmonic’s third quarter financial results on February 10, 2025.
Background on Harmonic Inc.
Harmonic Inc. is a leading provider of video, broadband, and cable edge solutions. The company operates through two segments: Cable Edge and Video Business. Harmonic’s Cable Edge segment offers a range of products and services for cable operators, including fiber-optic node systems, fiber-to-the-home (FTTH) solutions, and DOCSIS 3.1 technology. The Video Business segment focuses on video compression, transcoding, and packaging solutions for broadcast and multiscreen delivery.
Third Quarter Financial Results
On February 10, 2025, Harmonic reported its third quarter financial results, which showed a net loss of $6.5 million, compared to a net income of $10.1 million in the same period last year. The company also reported a decline in revenue, with a 14% year-over-year decrease to $118.4 million. Harmonic attributed the decline in revenue to lower demand for its video compression solutions due to the ongoing transition to cloud-based video delivery.
Investigation Details
Levi & Korsinsky’s investigation focuses on whether Harmonic and certain of its officers or directors violated securities laws by making false and/or misleading statements and/or failing to disclose material information to investors. Specifically, the investigation concerns statements made by Harmonic regarding its business, financial condition, and prospects for growth.
Impact on Individual Investors
If you are a Harmonic investor or held Harmonic securities between September 28, 2021, and February 10, 2025, and have suffered a loss, you may be entitled to participate in the investigation. To learn more about the investigation, please contact Levi & Korsinsky’s securities attorneys at 212-363-7576 or submit your contact information at [email protected].
Impact on the World
The investigation into Harmonic’s potential securities laws violations could have significant implications for the technology industry, particularly for companies in the video delivery and compression space. If it is found that Harmonic and its executives misrepresented the company’s financial condition or prospects, it could lead to increased scrutiny of other companies in the sector and potential regulatory action. Additionally, it could negatively impact investor confidence in these companies, leading to decreased stock prices and reduced investment in the sector.
Conclusion
Levi & Korsinsky’s investigation into Harmonic Inc. raises important questions about the company’s financial reporting and disclosures. As the investigation unfolds, it will be crucial for investors to stay informed about any developments. If you are a Harmonic investor or held Harmonic securities between September 28, 2021, and February 10, 2025, and have suffered a loss, you may be entitled to participate in the investigation. For more information, please contact Levi & Korsinsky at the contact information provided above.
As a responsible investor, it is essential to be aware of potential risks and to stay informed about the companies in which you invest. By staying informed, you can make informed decisions and protect your investments. We will continue to monitor the situation and provide updates as more information becomes available.
