Glancy Prongay & Murray LLP Reminds Investors of Extended Lead Plaintiff Deadline in the Class Action Lawsuit Against A10 Networks, Inc. (ATEN)
Jul. 14, 2018
LOS ANGELES--(BUSINESS WIRE)--Jul 13, 2018--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the July 27, 2018 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased A10 Networks, Inc. (“A10” or the “Company”) (NYSE: ATEN ) securities between February 9, 2016 and January 30, 2018, inclusive (the “Class Period”).
To obtain information or actively participate in the class action, please visit the A10 page on our website at www.glancylaw.com/case/a10-networks-inc. Investors suffering losses on their A10 investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to email@example.com.
On January 16, 2018, A10 announced that it expected fourth quarter 2017 revenue to be between $55.5 million and $56.0 million, which was below its prior guidance of $64.0 million to $67.0 million. On this news, A10’s stock price fell nearly 14%, thereby injuring investors.
Then, on January 30, 2018, A10 disclosed that the Company’s Audit Committee was investigating the Company’s revenue recognition practices from the fourth quarter of 2015 through the fourth quarter of 2017, inclusive. On this news, A10’s stock price fell nearly 12% on January 31, 2018, thereby further injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business and operations. Specifically, Defendants failed to disclose that: (1) A10 had issues with its internal controls that required an Audit Committee investigation; (2) A10’s revenues since the fourth quarter of 2015 were false due to improper revenue recognition which prompted an investigation by the Company’s Audit Committee; and (3) as a result, Defendants’ public statements were materially false and misleading at all relevant times.
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If you purchased shares of A10 during the Class Period you may move the Court no later than July 27, 2018 to ask the Court to appoint you as lead. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180713005505/en/
CONTACT: Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Glancy Prongay & Murray LLP
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PUB: 07/13/2018 09:02 PM/DISC: 07/13/2018 09:02 PM