A lawsuit was filed on behalf of investors in Sonus Networks, Inc. (NASDAQ:SONS) shares over alleged securities laws violations and NASDAQ:SONS investors should contact the Shareholders Foundation.
San Diego, CA -- (ReleaseWire) -- 04/13/2015 -- An investor, who purchased shares of Sonus Networks, Inc. (NASDAQ:SONS), filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by Sonus Networks, Inc. in connection with certain allegedly false and misleading statements made between October 23, 2014 and March 24, 2015.
Investors who purchased shares of Sonus Networks, Inc. (NASDAQ:SONS) have certain options and for certain investors are short and strict deadlines running. Deadline: June 5, 2015. NASDAQ:SONS 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 Sonus Networks, Inc. (NASDAQ:SONS) common shares between October 23, 2014 and March 24, 2015, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that Sonus Networks, Inc made allegedly false and/or misleading statements and/or allegedly failed to disclose that Sonus Networks, Inc would be unable to close certain orders in the first quarter of 2015, and that Sonus Networks, Inc was experiencing longer decision cycles from its customers.
Sonus Networks, Inc. reported that its annual Total Revenue rose from $254.13 million in 2012 to $296.33 million in 2014 and that its respective Net Loss declined from $50.17 million to $16.86 million. Shares of Sonus Networks, Inc. (NASDAQ:SONS) declined to as low as $8.26 per share on March 25, 2015.
On March 24, 2015, Sonus Networks, Inc. announced that it is updating its previous guidance and initiated a company-wide cost reduction review. Sonus Networks, Inc. lowered its previously issued guidance. Sonus Networks, Inc. said that it expects revenue to be in the range of $47 million to $50 million and non-GAAP loss per share in the range of $0.29 to $0.34 for the first quarter ending March 27, 2015 as compared to previous guidance of $74 million in revenue and non-GAAP diluted earnings of $0.03 per share. Sonus Networks, Inc. said that it also expects its revenue for the full year will be up to 25% below the midpoint of its previous annual guidance of $326 million to $330 million.
Shares of Sonus Networks, Inc. closed on April 9, 2015, at $7.65 per share.
Those who purchased shares of Sonus Networks, Inc. (NASDAQ:SONS) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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