A lawsuit was filed on behalf of investors in Applied Optoelectronics, Inc. (NASDAQ: AAOI) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 10/18/2018 -- An investor, who purchased shares of Applied Optoelectronics, Inc. (NASDAQ: AAOI), filed a lawsuit over alleged violations of Federal Securities Laws by Applied Optoelectronics, Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Applied Optoelectronics, Inc. (NASDAQ: AAOI) have certain options and for certain investors are short and strict deadlines running. Deadline: November 30, 2018. NASDAQ: AAOI investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Applied Optoelectronics, Inc. (NASDAQ: AAOI) common shares between August 7, 2018 and September 27, 2018, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that between August 7, 2018 and September 27, 2018, the defendants failed to disclose to investors that certain of the Company's lasers were susceptible to fail prematurely, that certain of the Company's transceivers utilizing these lasers would be materially affected, and that, as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
On September 28, 2018, the Company reduced its revenue forecast, citing issues with a customer order, stating "we identified an issue with a small percentage of 25G lasers within a specific customer environment. Consistent with AOI's commitment to supreme product quality and customer support, we mutually agreed with the customer to temporarily suspend shipments of certain transceivers utilizing these lasers while we worked to gain a deeper understanding of the scope of the issue and implement a solution."
Those who purchased shares of Applied Optoelectronics, Inc. (NASDAQ: AAOI) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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92108 San Diego
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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