Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Applied Optoelectronics, Inc. Investors
BENSALEM, Pa.--(BUSINESS WIRE)--Oct 2, 2018--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased Applied Optoelectronics, Inc. (“Applied Optoelectronics” or the “Company”) (NASDAQ: AAOI ) securities between August 7, 2018 and September 27, 2018, inclusive (the “Class Period”). Applied Optoelectronics investors have until November 30, 2018 to file a lead plaintiff motion.
Investors that suffered losses on their Applied Optoelectronics investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
Applied Optoelectronics purports to design and manufacture fiber-optic networking products, primarily for four networking end-markets. 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” and “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.” On this news, the Company’s share price fell more than 13%, on usually heavy trading volume, to close at $24.66 per share on September 28, 2018.
The complaint alleges that, during the Class Period, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, defendants failed to disclose to investors: (1) that certain of the Company’s lasers were susceptible to fail prematurely; (2) that certain of the Company’s transceivers utilizing these lasers would be materially affected; and (3) 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.
If you purchased shares of Applied Optoelectronics during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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CONTACT: Law Offices of Howard G. Smith
Howard G. Smith, Esquire
KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Law Offices of Howard G. Smith
Copyright Business Wire 2018.
PUB: 10/02/2018 02:00 PM/DISC: 10/02/2018 02:00 PM