The law firm said it is investigating possible securities-law violations after ADTRAN projected Q2 revenue and margins below prior guidance, triggering a roughly 14% stock drop on July 22, 2026.
Kirby McInerney LLP said it is investigating potential claims involving ADTRAN Holdings, Inc. after the company issued preliminary Q2 2026 results that came in below its earlier outlook. ADTRAN said on July 22, 2026 that preliminary revenue would be $280 million to $282 million and non-GAAP operating margin would be about 3.5% to 4.0%, versus prior guidance of $283 million to $303 million in revenue and 5% to 9% for non-GAAP operating margin. Chairman and CEO Tom Stanton said the preliminary results were hurt by a project delay from a single customer and by elevated component and freight costs. The law firm also pointed to CFO Timothy Santo’s Q1 2026 comments reiterating the earlier forecast, and said the preliminary Q2 revenue was $1 million to $23 million below guidance while margin was at least 100 basis points below it. An investor presentation attached to a May 5, 2026 Form 8-K (a U.S. securities filing for material events) had reported revenue of $286.1 million, up 15.5% year over year and within prior guidance of $275 million to $295 million. Kirby McInerney said ADTRAN’s preliminary Q2 revenue was approximately $4.1 million to $6.1 million below analyst consensus estimates. ADTRAN shares fell $1.69, or about 14%, to close at $10.45 on July 22, 2026. No lawsuit has been filed, and the investigation is continuing to determine whether claims may be brought under federal securities laws.