A lawsuit was filed on behalf of investors in Ribbon Communications Inc. (NASDAQ: RBBN) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 11/28/2018 -- The Shareholders Foundation announces that an investor, who purchased shares of Ribbon Communications Inc. (NASDAQ: RBBN), filed a lawsuit over alleged violations of Federal Securities Laws by Ribbon Communications Inc. (NASDAQ: RBBN), formely Sonus Networks, Inc. (NASDAQ:SONS).
Investors in shares of Ribbon Communications Inc. (NASDAQ: RBBN) have certain options and for certain investors are short and strict deadlines running. Deadline: January 7, 2019. NASDAQ: RBBN investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The plaintiff claims that between January 8, 2015 and March 24, 2015, the Defendants knew that the Company would fall materially short of its $74 million revenue forecast. Defendants knew that the unrealistic revenue and profitability forecasts remained aspirational and largely unreachable, a fact that senior sales personnel regularly communicated to Defendants. Defendants also knew that a number of 2015 sales had been "pulled forward" to buoy sales numbers in Q4 2014, at management's express direction, and that the "backlog" of sales expected to be recognized in early 2015 was significantly lower than usual. And, upon disclosure of the Company's poor results, the Company's share price fell significantly in value-thereby injuring investors.
Those who purchased shares of Ribbon Communications Inc. (NASDAQ: RBBN) have certain options and should contact the Shareholders Foundation.
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About Shareholders Foundation, Inc.
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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