SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Applied Optoelectronics, Inc. (AAOI)
NEW YORK, Oct. 03, 2018 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Applied Optoelectronics, Inc. (“Applied Optoelectronics” or the “Company”) (NASDAQ: AAOI). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: www.bgandg.com/aaoi.
The investigation concerns whether Applied Optoelectronics and certain of its officers and/or directors have violated Federal Securities Laws.
On September 27, 2018, a Loop Capital Markets analyst downgraded Applied Optoelectronics’ stock, reporting that the Company was experiencing product quality issues with certain transceivers in which its lasers fail after thousands of hours of operation. The analyst also lowered gross margin and revenue expectations, citing product quality issues that suggested that Applied Optoelectronics would begin procuring lasers externally through 2019. On this news, Applied Optoelectronics’ stock price fell $2.98 per share, or more than 9%, to close at $28.36 per share on September 27, 2017. Then, on September 28, 2018, Applied Optoelectronics cut its revenue guidance for the third quarter of 2018, stating that it had identified an issue with its lasers that had led the Company to temporarily suspend shipments of certain transceivers. On this news, Applied Optoelectronics’ stock price fell $3.70 per share, or more than 13%, to close at $24.66 per share on September 28, 2018.
If you are aware of any facts relating to this investigation, or purchased Applied Optoelectronics shares, you can assist this investigation by visiting the firm’s site: www.bgandg.com/aaoi. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | email@example.com