Westell Receives Notice of SEC Investigation
AURORA, Ill.--(BUSINESS WIRE)--
Westell Technologies, Inc. (NASDAQ:WSTL), a leading provider of broadband access products and conferencing services, today announced Westell Technologies, Inc. (the "Company") has been informed by the Staff of the Securities and Exchange Commission (the "Commission") that the Staff has obtained an order from the Commission directing a private investigation into trading in the Company's securities.
The Company intends to cooperate fully with the investigation. About Westell
Westell Technologies, Inc. (NASDAQ:WSTL) headquartered in Aurora, Illinois is an Broadband Access Solutions company that provides leading broadband products, service solutions, and conferencing solutions for carriers, service providers and business enterprises around the world. Westell delivers innovative, open broadband solutions that meet the market's needs for fast and seamless broadband connection. Additional information can be obtained by visiting Westell's Web site at www.westell.com.
Cautionary Statement Regarding Forward-Looking Information
Certain statements contained herein that are not historical facts or that contain the words "believe", "expect", "intend", "anticipate", "estimate", "may", "will", "should", or derivatives thereof and other words of similar meanings are forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, product demand and market acceptance risks, need for financing, an economic downturn in the U.S. economy and telecom market, the impact of competitive products or technologies, competitive pricing pressures, new product development, excess and obsolete inventory, commercialization and technological delays or difficulties (including delays or difficulties in developing, producing, testing and selling new products and technologies), the effect of Westell's accounting policies, the need for additional capital, the effect of economic conditions and trade, legal social and economic risks (such as import, licensing and trade restrictions) and other risks more fully described in the Company's Form 10-K for the fiscal year ended March 31, 2007 under the section Risk Factors. The Company undertakes no obligation to publicly update these forward-looking statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events or otherwise.
Source: Westell Technologies, Inc.
Released December 12, 2007